Dear users,
ETH2.0 is about to launch. Doex is committed to supporting the ETH upgrade by being responsible for our customers' assets and respecting the feedback from the community.
Given that the possibility of potential hard forks in this upgrade will bring a lot of uncertain factors to the market, DOEX will distribute potential forking tokens and "candies" to users in advance and will open corresponding spot transaction in near future in order to reduce the market fluctuation transaction risk that DOEX users may generate during this fork upgrade. The specific plan is as follows:
I. Introduction to ETH fork coin "Candy"
ETHS -tokens representing the new PoS (Proof of Stake) chain;
ETHW — the tokens that represent the PoW (Proof of Work) chain that may continue;
ETHD -Fork coin "Candy" is a new Ethereum public chain formed at the highly-hard forked Ethereum block to inherit the Ethereum PoW function. The miners on this chain will use new work verification algorithms to build new blocks, and implement some new features on this chain through the improvement of algorithms to enhance users experience.
II. Notes on the exchange of ETH fork coins "candy"
1. Exchange time: Enable the conversion function of ETH into ETHS, ETHW, and ETHD from 12:00 (UTC+8) on August 12, 2022 to the successful upgrade of ETH2.0.
2. Exchange ratio: 1ETH⇌1ETHS+1ETHW+1000ETHD
3.Exchange direction: two-way exchange, that is, users can convert ETH into three potential fork tokens according to the above exchange ratio on the ETH exchange page, or convert the three potential fork tokens back into ETH according to the same exchange ratio.
III. Instructions on the transaction, recharge and withdrawal of ETH fork coins
1.Transaction time: 12:00 (UTC+8) on August 12, 2022 to the successful upgrade of ETH2.0
2.Trading pairs: ETHS/USDT; ETHW/USDT; ETHD/USDT
3.Recharge and withdrawal: The recharge and withdrawal of ETHS, ETHW and ETHD is not available.
IV. The note on whether the hard fork for ETH is successful or not this time
1. If ETH 2.0 completes the upgrade and eventually generates the fork
DOEX will make snapshots of the users' ETHS before the ETH2.0 upgrade. ETHS will automatically convert 1: 1 to the upgraded ETH tokens, and remove ETHS and ETHW transactions pairs. The PoW chain with the largest computation power will serve as the main chain of ETHD. If there are other PoW forked chains, Doex may also support them according to the market consensus, and fully respect the opinions of the community and users. After the community has formed a naming consensus on the ETH POW forked chain, the naming rules will be adjusted, and relevant recharging and trading businesses will be availiable in succession (You can follow the subsequent announcement for details);
2. If ETH 2.0 is upgraded without forks (which means PoS chain wins)
ETHS will automatically convert to the upgraded ETH in a 1:1 ratio. The chain of ETHS will inherit the ETH token name, and Doex will remove the ETHS, ETHW, and ETHD fork tokens and transaction pairs synchronously. Please pay attention to the potential risks when exchanging and trading.
Based on the latest market information, community and users' consensus, Doex adopted the above plan to ensure the smooth operation of the market. Doex reserves the right to make reasonable modifications and adjustments to this plan (For example: removing relevant trading pairs in advance) according to the latest market trends. Please kindly understand.
Risk reminder:
Because ETH fork still has a lot of uncertainty, the potential fork chain may not be able to continue due to lack of computing power, technical upgrade or community support. Investing, trading or holding related fork coins will be at risk of going to zero or being removed. Doex reiterates that it does not make any commitment to the value of any fork coins. Please judge rationally and make prudent decisions.
Doex official
August 12, 2022
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