DearHuobiGlobalusers,
AsperannouncedbytheEthereumFoundation,theexecutionlayerParisupgrade,markingthemigrationfromproof-of-powertoproof-of-stake,isaroundthecorner.ThishistoricaleventwillbetriggeredwhentheTerminalTotalDifficultyvaluereaches58750000000000000000000,whichisexpectedtohappenbetweenSept10toSept20,ormorespecificallyataround2022-09-1500:30(UTC)atanapproximateETHmainnetblockheightof15,540,293.
TheMergeisatwo-stepprocess.ThefirststeppriortotheParisupgradeisanetworkupgradeontheconsensuslayer,theBellatrix,whichisscheduledforanepochheightof144896at11:34:47amUTConSept6,2022.
HuobiGlobalwillsupportthetwoupgradesandisreadyforapossiblehardforkandanewtokenthatmaybeproducedfromit.HuobiGlobalistotakethefollowingmeasurestoprotectuserassetsecurityandreducethetradingrisksthatmayarisefrompricevolatilityduringthehardfork.
1.SuspensionofdepositsandwithdrawalsHuobiwillsuspendthedepositandwithdrawalservicesforETHandERC-20tokensfrom11:00:00UTCSept6,2022(theconsensuslayerupgrade)tillfurthernoticeoftherecoveryoftheseservices.Wekindlyadviseyoutospareasufficienttimebufferforyourdepositsandwithdrawalsoftheaffectedtokens,whichshouldbescheduledbeforethesaidtime.WewillpublishanothernoticetoletyouknowwhetherthedepositandwithdrawalserviceswouldbeaffectedbytheParisupgrade.
2.SuspensionofnewmarginloansTomanagethemarginrisk,HuobiGlobalwillsuspendthecrossandisolatedETHmargintradingloanserviceandtheETHcryptoloansservicefrom00:00(UTC)Sept14to00:00(UTC)Sept16,2022.Pleasemakesureyouplanyourloanpositionsaccordingly.
3.AssetandtradingserviceswillremainunaffectedAssetstatus,spottrading,andstrategytrading(TradingBot)servicesforETHandERC-20tokenswillnotbeaffectedduringthehardfork.Butthemarketmayfluctuateinresponsetothehardfork.It’swell-advisedtoactprudently.P2P,QuickBuy/Sell,andAuto-Investwillnotbeaffected.Assetbalancesnapshotswillbebasedonthecompletedorders.Ifthepaymenthasbeenmadeforanorderbuttheorderisstillpendingwhenasnapshotistaken,thentheassetinvolvedinthisorderwillnotcounttowardtheassetbalance.Doschedulesufficienttimeforyourselfsothattheordercanbecompletedintime.The3rdPartyPaymentchannelforbuyingETHandERC-20tokenswillbetemporarilysuspendedfrom09:00(UTC)Sept6,2022,untilfurthernoticeofrecoverytime.Crossandisolatedmargintradingwillnotbeaffected.ButthemarginloanservicesforcrossandisolatedETHmargintradingwillbetemporarilysuspendedfrom00:00(UTC)Sept14to00:00(UTC)Sept16,2022.Pleasewatchoutforvolatilemarketmovements,whichmaycauseliquidationeventsduringthehardfork.FuturestradingofETHandERC-20tokenswillnotbeaffected.Butthehardforkmayresultinhighpricevolatilityandextrememarketconditions.PleasepaycloseattentiontotheMergetimeandmakeinformeddecisionsonpositionmanagementandriskcontrol.ETPtradingservicesforETH'sETPproducts(ETH3L/USDT,ETH3S/USDT,ETH1S/USDT)willbeaffectedinthesubscriptionsessiononlyforthedurationfrom02:00(UTC)Sept14to02:00(UTC)Sept16,2022.TradingandredemptionoftheseETPproductswillfunctionnormally.Note:Airdrops,ifanyoccur,willnotapplytotheseETPproducts.DualInvestmentofETHwillnotbeaffected.AnyuncompletedETHdualinvestmentordersduringthehardforkwillhavetheirpurchaseamountsrecordedinsnapshots.Airdrops,ifanyoccur,willbecreditedtoyouraccountsafterthehardforkends.HuobiEarnproductsonETHarebeunaffectedineithersubscriptionorredemption.?
4.PossiblescenariosregardingtheMergeTherearetwopossiblescenariosregardingtheMerge:
1).Nonewtokeniscreated:HuobiGlobalwillconfirmthestabilityandsecurityoftheEthereummainnetbeforerecoveringthedeposit,withdrawal,marginloan,andcryptoloanservicesforETH.Wewillmakeanotherannouncementandletyouknowtheexacttimeforthismatter.
2).Thenetworkforksintotwocompetingchainsandanewtokeniscreated:ThenthesymbolETHwillbeusedintheETHPoSchain.HuobiGlobalwillthensenduserstheforkedtokensata1:1ratiobasedonETHbalancessnapshotstakenbeforetheParisupgrade(approximatelyatthemainnetblockheightof15,540,293andaround2022-09-1500:30(UTC)).Theforkedtokenswillbecreditedtousers'spotaccounts.Aspecificannouncementwillalsobepublishedtoinformourusersoftheairdropcreditingoftheforkedtoken.
5.OnBETH
Ifanewtokeniscreatedbythehardfork,itremainstobedeterminedbythenewchainwhetherBETHholderswillreceiveforkedtokensfromthenewchain.Wewillkeepyouposted.
PleasenotethatthestakedETHcanberedeemedonlyaftertheShanghaiupgradeiscompletedonEthereum.
ThoughtheexistingsubscriptionordersforETH2.0Stakingarenotaffected,newsubscriptionapplicationswillnotbeacceptedduringtheperiodfrom00:00(UTC)Sept14to00:00(UTC)Sept16,2022.
6.Aboutairdropcreditingoftheforkedtokens
1)SpotAccount:TheairdropamountdependsonthesumofthesnapshotETHbalancesinthemainaccountandsub-accounts.
2)FiatAccount:TheairdropamountdependsonthesnapshotETHbalanceinOTCaccounts.
3)FuturesAccount:TheairdropamountdependsonthesumofsnapshotETHequitybalancesincoin-marginedfuturesaccounts(includingdeliveryandperpetual).
4)MarginAccounts:TheairdropamountdependsonthesnapshotETHequitybalancesinmarginaccounts.TheoutstandingETHdebtwillbedeductedfromthetotalETHbalancewhensnapshotsaretaken.(Forinstance,ifauserhasanoutstandingdebtof1,000ETHandtheaccountbalanceatthesnapshottimeisXETH,thentheETHequitybalancewouldappearasthedifferenceofXminus1000inthesnapshot).
5)CryptoLoansAccount:TheETHassetsusedascollateralinthecryptoloanservicewillnotcountasETHbalanceinthesnapshots.
6)HuobiEarnAccount:Theairdropamountdependsontheaccount'ssnapshotETHbalances.PleasenotethatwhethertherewillbeanairdropcreditingforthestakedETHassetsinETHforstETHdependsontheforkedchain.Wewillfollowcloselyonthismatterandkeepyouposted.
7)StrategyTradingAccount:Theairdropamountdependsontheaccount'ssnapshotETHbalances.
8)OptionsAccount:Theairdropamountdependsontheaccount'ssnapshotETHbalances.
Pleasenote:
Theforkedtokenswillbecreditedtousers'spotaccounts.Anoticewillbeannouncedtoinformusersofthecompletionoftheairdropcrediting.Asingleposition(includingopenorders)oflessthan0.003ETH,asshowninbalancesnapshots,isnotincludedintheforkedtokenairdrops.ThesnapshotbalancesdonotincludetheETHassetsthathavenotarrivedinthedestinationaccounts,areinthewithdrawalprocess,orarealreadysoldatthetimewhensnapshotsaretaken.?
7.More
●HuobiGlobal'sexistinglistingprocessineffectapplytotheforkedtokenstoo.PleaserefertofutureHuobiofficialannouncementsregardingwhethertradingserviceswillbeopenfortheforkedtokens.
●Duetolocalregulatoryrestrictions,usersbasedinthecountries/regionsofChinaMainland,UnitedStatesofAmerica,Canada,Japan,Cuba,Iran,NorthKorea,Sudan,Syria,Venezuela,Singapore,andCrimeawillnotreceivetheforkedtokenairdrops.Formoreinformation,pleaserefertotheTermsofUserofHuobiGlobal.
HuobiGlobalwillkeepyouinformedofthelatestprogress.FormoreabouttheMerge,pleasevisitthefollowingEthereumwebsites:
·TheMerge·MainnetMergeAnnouncement?
HuobiGlobal
August28,2022
TradeonthegowithHuobiGlobalApp(iOS/Android)
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HuobiGlobalreservestherightinitssolediscretiontoamendorchangeorcancelthisannouncementatanytimeandforanyreasonswithoutpriornotice.TheaboveisforinformationpurposesonlyandHuobiGlobalmakesnorecommendationsorguaranteesinrespectofanydigitalasset,product,orpromotiononHuobiGlobal.Pricesofdigitalassetsarehighlyvolatileandtradingdigitalassetsinvolvesrisk.PleasereadourRiskRemindertexthere.
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