Notice Regarding the Upcoming Ethereum Merge

Dear Dcoinians,

Ethereum’s Proof-of-Work (PoW) chain will migrate to the Proof-of-Stake (PoS) chain upon hitting the Terminal Total Difficulty (TTD) value of 58750000000000000000000. The execution layer upgrade (Paris) is expected to take place between 2022-09-10 and 2022-09-20.

Current estimation lies at the ETH mainnet block height of 15,540,293, or approximately at 2022-09-15 00:30 (UTC).

As a new token might be created during a hard fork, Dcoin has taken the following steps to reduce the trading risks brought about by price volatility and to maintain the safety of user funds during the hard fork:

1. ETH Deposits & Withdrawals

Dcoin will suspend deposits and withdrawals for ETH and ERC-20 tokens at approximately:

• 2022-09-06 11:00 (UTC) for the Bellatrix consensus layer upgrade
• 2022-09-15 00:00 (UTC) for the Paris execution layer upgrade

Please ensure that you leave sufficient time for your ETH and ERC-20 tokens transfers to be fully processed prior to the above time. We will handle all technical requirements for users holding ETH and ERC-20 tokens on Dcoin.

 

2. Regarding the Merge

The two likely scenarios to occur with the Ethereum (ETH) Merge are:

 

Scenario A:

No new token is created. Dcoin will then reopen deposits and withdrawals for ETH and ERC-20 tokens as soon as possible. A further announcement will be posted.

 

Scenario B:

The chain splits into two competing chains and a new token is created. The “ETH” ticker will be used for the Ethereum PoS chain. We will then credit to users’ Dcoin accounts the forked token from the minority chain at a ratio of 1:1, based on the snapshot of ETH balances before the Paris execution layer upgrade (approximately at ETH mainnet block height of 15,540,293, or 2022-09-15 00:30 (UTC)). Withdrawals for the forked token will be supported. Further details regarding this distribution will be stated in a separate announcement.

 

Dcoin reserves the right to update the treatment of the chain split in a further announcement.

In order to protect Dcoin users, the forked token will go through the same strict listing review process as Dcoin does for any other coin/token. Dcoin does not guarantee any listings as per our internal policy.

 

3. ETH and ERC-20 Tokens Spot & Margin Trading

Spot trading: Spot trading for ETH and ERC-20 tokens will not be affected. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.

Dcoin Futures will undertake additional protective measures, which include but not limited to:

• Adjusting the margin tiers including maximum leverage value, position value and maintenance margin in each tier.
• Updating the funding rates including the interest rate, premium, capped funding rate and settlement frequency.
• Changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.

Further notes:

• Uncredited ETH deposits and pending ETH withdrawals will not count toward the snapshot of users’ ETH balances before the Paris execution layer upgrade. Dcoin will support any technical issue for you of this hard fork.
• A further announcement will be made regarding the timing for the resumption of deposits and withdrawals, as well as further information about the potential ETH chain split that may affect the above information.

For further information, please refer to the following:

• The Merge
• Mainnet Merge Announcement

Risk Warning: Around the period of Ethereum Merge, hard fork may cause uncertainties to the market, price volatility may happen, please manage your risk control and be aware of trading risks.

Thank you for your trust and support to Dcoin!

Dcoin Global Operation Team

Aug 30, 2022

Join Us

Telegram(Official) : https://t.me/dcoinofficial

Telegram(Event) : https://t.me/dcoin_event

Twitter : https://twitter.com/dcoinexchange

Medium : https://medium.com/dcoin-exchange

Linkedin: https://www.linkedin.com/company/dcoin-exchange/