Dear CoinEx users,
The Bitcoin Cash (BCH) network will undergo a semi-annual hard fork upgrade at 12:00 on November 15 (UTC) as scheduled. Due to two node schemes of Bitcoin Cash ABC and Bitcoin Cash Node, it is likely that BCH will split into two chains and generate brand-new coin in this fork. Based on this, we launched futures markets of BCH forked coins on September 23, please see Announcement on Preparations of Coming BCH Fork & Launch of Forked Coins Futures Markets. As described in the announcement, we will appoint the chain with the higher price as BCH, and according to the current market price, BCHN stands a good chance of inheriting BCH. To provide you with better services and ensure your asset security, we make the following arrangements related to snapshot, withdrawal, deposit, trading and perpetual contract:
1. Snapshot
We will take a snapshot of BCH holding at 12:00 on November 15, 2020 (UTC). With BCH held in your CoinEx Spot account, Margin account or Perpetual account, you can obtain new forked coin at a 1:1 ratio, which will be airdropped to your Spot account. Accordingly, we will select the chain with higher price to be BCH and convert your relevant futures asset into BCH.
2. Deposit
BCH deposit service will not be affected in this fork, but only when your deposit has been credited to account before the snapshot can you get forked coin. We will keep close attention to BCH fork and support the deposit of forked coin once available. The deposit address of forked coin will be the same as BCH’s, so you don’t have to worry about the transaction replay.
3. Withdrawal
We will close BCH withdrawal service at 12:00 on November 15, 2020 (UTC). Since there’s no transaction replay protection in this fork, we will resume the withdrawal of BCH and forked coin after confirming the asset security of our platform.
4. Perpetual Contract
We will conduct forced liquidation to all unclosed positions in BCH/USD perpetual market in terms of mark price at 4:00 on November 15, 2020 (UTC), and related perpetual trading will be suspended, so please make preparations in advance. After the fork, when the market is stable, we will reselect a reasonable index price and reopen BCH/USD perpetual contract trading.
5. Trading
Spot trading on CoinEx will not be affected. Once completed the snapshot and airdrop, we will delist the futures coin that have inherited BCH chain and close the related market. In the meanwhile, new trading pairs formed by the forked coin aiming at USDT and BTC markets will be supported to offer more trading options for you.
CoinEx reserves the right of final interpretation of this announcement.
CoinEx Team
November 5, 2020
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP
CoinEx’s Solution Scheme of Coming BCH Fork
