The long-awaited Ethereum "London" hard fork is expected to commence at around 19:55 a.m. on Aug. 5 (UTC+8), with block 12,965,000.
The London hard fork may generate a new forked coin. For protecting users' assets by reducing trading risks brought by market fluctuation during the hard fork, Coinstore will support the upgrade with the following arrangements:
For ETH and ERC20-based digital assets, Coinstore will suspend their deposits & withdrawals on the ERC20 chain on Aug. 5 at 19:45 a.m.(UTC+8). Therefore, please leave a sufficient amount of time prior to the upgrade period for completing your existing deposit and withdrawal transactions.
- Trading of ETH and related assets will not be affected:
Assets & Spot trading:Your ETH and ERC20-based tokens assets on Coinstore, including the spot trading services related, will not be affected during the hard fork. As the hard fork may come with dramatic price fluctuations, please make prudent, informed decisions based on your own risk appetite.
Contract Trading:The contract trading services for ETH and ERC20-based tokens will not be affected during the hard fork. A volatile market behavior or price deviation may occur during the hard fork. If this is the case, Coinstore will take protective measures, including but not limited to changing the price index components (Please refer to Index and Exchange Rate Calculation)
III. The Likely Conditions after Hard Fork:
No forked coin after the hard fork: After confirming the stability and security of the ETH mainnet, Coinstore will resume both deposit and withdrawal services of ETH and ERC 20-based tokens, including the loan service in Margin trading and Crypto Loans. Further announcement(s) for services status updates will be posted.
New forked coin after the hard fork:Coinstore will distribute ETH tokens on the chain that completes more work to users. We will take a snapshot of users' ETH holdings at the block height of 12,965,000, and distribute holding rewards to users proportionally based on the snapshot data. The holding rewards will be sent to the user's Exchange account. Users will be notified via a further announcement after the completion of the distribution.
- Reward Distribution (if the new coin is generated after the hard fork)
- Exchange Account: The rewards will be distributed based on the holdings snapshotted in the Exchange account.
- Futures Account: The rewards will be distributed based on the holdings snapshotted in the Futures account.
The rewards on hold will be distributed to users' Exchange accounts. Users will be notified in a further announcement after the completion of the reward distribution.
If there are any other situations, Coinstore will make a further announcement. For more information, please refer to:
August 4th, 2021
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