Dear CoinEx users,
According to the announcement of Ethereum Foundation, The Merge is a two-step process:
1. Bellatrix, the network upgrade, which is scheduled for epoch 144896 on the Beacon Chain, approximately at 11:34 on Sep 6, 2022 (UTC).
2. Paris, the execution layer upgrade, which will be triggered by the Terminal Total Difficulty (TTD) of 58750000000000000000000 between Sep 10-20, 2022, estimated at the ETH mainnet block height of 15,540,293, or approximately at 4:45 on Sep 15, 2022 (UTC). The completion of the upgrade will mark the end of proof-of-work for Ethereum, and the full transition to Proof-of-Stake.
CoinEx will support the Ethereum Merge, and will take the following measures to reduce the potential trading risks caused by price fluctuations to ensure the safety of user assets. The details are as follows:
Deposit & Withdrawal Services of ETH and ERC20 Tokens
CoinEx will suspend the deposit and withdrawal services of ETH and ERC20 tokens during the two upgrades, while the inter-user transfer of these coins/tokens remains available. The estimated time is as follows.
· The Bellatrix upgrade: at 11:34 on Sep 6, 2022 (UTC)
· The Paris upgrade: at 4:45 on Sep 15, 2022 (UTC)
For the specific suspension and resume timing, please pay attention to further announcements.
ETH Trading Services
1. Margin trading: CoinEx has suspended the borrowing service of ETH at 4:00 on Sep 2, 2022 (UTC), and the resume time will be notified separately.
If there is any existing loan order in your account, please repay as soon as possible.
2. The following ETH services are not affected: Spot trading, Futures trading, Financial Account, Market Making.
Great price fluctuation might occur during the upgrades, please evaluate the risks before trading.
Regarding the Potential Forked Token
If a forked token is created in the Merge, CoinEx will:
1. Use the ticker “ETH” for the Ethereum PoS chain.
2. Take a snapshot of users' ETH balances before the Paris upgrade, and allocate all received forked tokens to eligible users.
3. Comprehensively evaluate the support of the trading service of the forked token by the listing criteria.
For more details, please pay attention to further announcements.
Attention
1. For CoinEx users, no operation is needed to complete the upgrades. You can deposit ETH to CoinEx in advance, and CoinEx will assist in handling all technical problems about the merge.
2. For more info:
The Merge | ethereum.org
Mainnet Merge Announcement
Risk Reminder
Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.
CoinEx reserves the right in its sole discretion to amend, change or cancel this announcement at any time and for any reason without prior notice.
CoinEx Team
Sep 2, 2022