Dear OKX users,
The Ethereum Merge represents a historic transition from proof-of-work (PoW) to proof-of-stake (PoS). Below is a detailed guide on how OKX will manage services during this critical upgrade.
Key Events in the Ethereum Merge
1. Bellatrix Upgrade (Consensus Layer)
- Timing: Activated at Beacon Chain epoch 144,896 (~September 6, 2022 UTC).
- Purpose: Prepares the Beacon Chain for the Merge by making it "Merge-aware."
2. Paris Upgrade (Execution Layer)
- Timing: Triggered when Ethereum’s PoW chain reaches Terminal Total Difficulty (TTD) 58,750,000,000,000,000,000,000 (~September 15, 2022 UTC).
- Outcome: Ethereum’s execution layer merges with the PoS Beacon Chain, retiring the PoW chain.
👉 Secure your ETH holdings before the Merge
OKX Service Adjustments
Deposits & Withdrawals
ETH and ERC-20 token deposits/withdrawals will be suspended during:
- Bellatrix Upgrade: September 6, 2022 (UTC).
- Paris Upgrade: September 15, 2022 (UTC).
Post-Merge Scenarios
Scenario A: No New Token Created
- Services resume after confirming Ethereum Mainnet stability.
Scenario B: New Forked Token Emerges
- ETH: Recognized on the PoS chain.
Forked Token: Distributed 1:1 based on ETH holdings pre-Paris upgrade.
- Snapshot details and trading availability will follow a separate review.
Trading Services
Unaffected Services
- Spot, Futures, Perpetual Swaps, Options: ETH/USDT and ETH/USD trading continues.
Adjustments
- Margin Trading: ETH borrowing suspended; repay existing loans pre-upgrade to avoid forked token liabilities.
- Risk Controls: OKX may adjust margin tiers, funding rates, or price limits based on volatility.
👉 Explore ETH trading strategies post-Merge
Grow & DeFi Services
- Savings/Staking: ETH holdings included in snapshots; monitor volatility.
- ETH 2.0 Staking: Subscriptions paused September 6 & 15; BETH rewards unaffected.
- DeFi Mining: On-chain operations suspended upgrade days; redemptions delayed.
FAQ
1. Should I deposit ETH to OKX before the Merge?
Yes! Early deposits ensure OKX can handle technical transitions seamlessly.
2. Will my ETH loans be affected?
Outstanding ETH loans must be repaid with forked tokens if Scenario B occurs.
3. Can I trade forked tokens immediately?
No. Forked tokens undergo listing reviews before trading opens.
4. Is ETH 2.0 staking safe during the Merge?
Staked ETH’s inclusion in snapshots depends on the forked chain’s handling of ETH2.0 contracts.
5. Will fiat services be interrupted?
No. Fiat deposits/withdrawals remain operational.
For further assistance, contact OKX Support.
OKX reserves the right to update measures based on network conditions.
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