Binance, the world’s highest-volume cryptocurrency exchange, announced that it will suspend transactions during the Ethereum (ETH) Merge update.
Binance’s September 13 In the post he published on his official website on 15 September 4.30 ET Therefore, it is expected that from 3.30 CEST He stated that from now on, deposits and withdrawals on the Ethereum network will be suspended. Noting that the specified time is an estimate, Binance said, 587.500.000.000.000.000.000.000 the time given depending on the time to reach the terminal difficulty value. can change expressed.
Ethereum’s Proof of Work system (PoW) in case of forking based on ETHW specified by the company that it will be listed by name. Also on Binance accounts ETH and WETH that it will fulfill the relevant technical requirements for the users in question and that the new tokens formed in other possible fork situations will be transferred to the account of the eligible users. 1:1 announced that it will reflect ETHW withdrawal transactions in the future It has been reported by Binance that it will be opened and detailed information will be given soon.
Binance post, WETH to ETH conversions have been suspended and announced that it will stay that way until the network stabilizes after the update. In addition, the company also provides users with ETH liability in the margin in case of a possible fork. It should also return the forked tokens. expressed. If users do not return the forked token, Binance will issue a forked token equivalent to the cross collateral account. added obligation.
The company, which has a strict attitude towards loans and credit transactions, ETH loan in case of fork of investors to credit obligations additional originating from forked token obligations will also be added.. However, according to the disclosures, users can’t get their forked tokens. no need to return. In addition, the stock market can also be experienced due to the increase in the liability levels of the loans in the event of a fork. warns customers against liquidations.
In post, in case of fork Ether staked on Binance (BETH) from forked tokens of users with cannot benefit from information was included.