Dear users,
The ETH Merge will take place at Mainnet Block Height 15,540,293 or at 00:30, 15 September 2022 (UTC) — this marks a transitioning of Ethereum consensus from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Prior to this upgrade is the consensus upgrade (Bellatrix), launching at Beacon Chain’s epoch 144,896, 11:34:47, 6 September 2022 (UTC). BIT will fully support the ETH Merge.
During the Merge, it will be expected that one or more hard forks will occur. In order to reduce the risk of market volatility caused by the Merge, and to protect BIT users' assets, BIT has taken the following measures for the Merge:
1. ETH deposit and withdrawal suspended
BIT will temporarily suspend ETH and ERC-20 token deposits and withdrawals at the following times:
- Consensus Layer Upgrade (Bellatrix): 9:00, 6 September 2022 (UTC)
- Implementation Layer Upgrade (Paris): 22:00, 14 September 2022 (UTC)
We advise users to make any deposits and / or withdrawals in advance. BIT will try its best to handle technical issues during the hard fork process for users. Deposit and withdrawal services will resume once the blockchain stabilizes.
2. Convert service suspended
BIT will temporarily suspend the Convert service at the following times:
- Consensus Layer Upgrade (Bellatrix): 9:00, 6 September 2022 (UTC)
- Implementation Layer Upgrade (Paris): 10:00, 14 September 2022 (UTC)
BIT will resume the Convert service once the blockchain stabilizes.
3. The ETH contract funding charging suspended
To avoid market volatility affecting the stability and fairness of trading during the upgrade, BIT will temporarily suspend the charge of ETH contract funding fees (ETHUSDT perpetual swap, ETHUSD perpetual swap, ETH coin-margined perpetual swap) at the following times:
- Consensus Layer Upgrade (Bellatrix): 11:30, 6 September 2022 (UTC)
- Implementation Layer Upgrade (Paris): 0:30, 15 September 2022 (UTC)
BIT will resume charging the ETH contract funding fees once the blockchain stabilizes.
4. ETH Earn Services
During the Merge of ETH, BIT will not support the purchase of ETH fixed income products.
NB: The timing and other details of the Merge are ultimately based on the information released by the Ethereum Foundation. BIT reserves the right to change the treatment of the hard fork via any further announcement(s).
Risk Warning
During the ETH Merge, the market fluctuates violently, which may cause losses to your assets. Please pay attention to risk control.
For more information, please check BIT previous announcement on the processing plan for ETH Merge.
Thanks for your support!
BIT Team
Sep 2, 2022
Find us on
Telegram https://t.me/bitcom_exchange
Twitter https://twitter.com/BITCryptoXchg
Reddit https://www.reddit.com/r/bitcom_exchange/
Facebook https://www.facebook.com/BITCryptoXchg/
Instagram https://www.instagram.com/bitcryptoexchange/