Ethereum network will be merged and upgraded at block height 15540293 (expected at 00:30 UTC, September 15, 2022). CoinTR will take the following measures:
1. ETH Deposit and Withdrawal
CoinTR will suspend the deposit and withdrawal of ETH and ERC-20 network tokens. The timeline is about:
- At 11:00 (UTC) on September 6, 2022, the consensus layer will upgrade (Bellatrix)
- At 00:00 (UTC) on September 15, 2022, the execution layer will upgrade (Paris)
Please ensure that you leave enough time to deposit and withdraw. CoinTR will handle any technical problems in the hard fork for users holding ETH and ERC-20 tokens.
2. On Merge
The following two situations will be likely to occur with the Ethereum merge:
- Situation 1:
If no new token is created after the hard fork, CoinTR will reopen the deposit and withdrawal of ETH and ERC-20 network tokens as soon as possible. And a new notice will be announced .
- Situation 2:
After hard forking, two competing blockchains appear and a new token is created. CoinTR will evaluate whether to support them. For forked chains or coins that meet the audit and evaluation requirements of CoinTR, the support time will be posted in a further announcement.
CoinTR reserves the right to update the announcement on chain forking and processing.
In order to better protect CoinTR users, all forked coins need to pass CoinTR's strict listing review process like other tokens. According to the internal policy, CoinTR will not make any guarantees for listings.
3. Spot Trading of ETH and ERC-20 Network Tokens
Spot trading of ETH and ERC-20 network tokens will not be affected, but hard forking may be accompanied by more drastic price fluctuations. Please evaluate the risks before trading.
4. Futures Trading of ETH
Futures trading of ETH USDⓈ-M will not be affected. CoinTR futures will take additional protection measures, including but not limited to:
- Adjust the margin level, the maximum leverage value, position value and maintenance margin of each level;
- Update the fund rates including interest rate, premium, capped fund interest rate and settlement frequency;
- Change the constituents of the price index and update the marked price using the last price protection mechanism.