In the event that the hard fork results in an additional token, Binance.US has taken the following steps to reduce the trading risks brought about by price volatility, and to maintain the safety of user funds:
1. ETH Deposits & Withdrawals
Binance.US will suspend ETH and ERC-20 tokens deposits and withdrawals at approximately 2021-08-05 11:45 (UTC) (7:45 AM Eastern / 4:45 AM Pacific).
Please ensure that you leave sufficient time for your ETH and ERC-20 token transfers to fully process before the above time. We will handle all technical requirements for users holding ETH and ERC-20 tokens on Binance.US.
2. Regarding the ETH Hard Fork
The two likely scenarios to occur with the Ethereum (ETH) London mainnet activation are:
- No new tokens will be generated. Binance.US will resume ETH and ERC-20 tokens deposits and withdrawals as soon as possible.
- The current blockchain splits into two competing chains and a new token is created. In the event of this, Binance.US will credit users with ETH from the chain with the most work done. We will also credit users with the token from the minority chain at a ratio of 1:1 based on the snapshot of ETH balances at block height 12,965,000, or approximately 2021-08-05 11:55 (UTC) (7:55 AM Eastern / 4:55 AM Pacific) as stated above. If this occurs, we will make an announcement with details regarding this distribution.
Binance.US reserves the right to update the treatment of the chain split in a further announcement.
3. ETH and ERC-20 Token Trading
ETH and ERC-20 tokens trading will remain unaffected. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.
- Unconfirmed ETH deposits and pending ETH withdrawals will not be counted in a user’s snapshot balance.
- We will make an announcement regarding the timing of deposits and withdrawals resuming. Additionally, we will make another announcement regarding any Ethereum Blockchain splitting that may affect the above.
- The Ethereum network upgrade & hard fork will take place at Ethereum mainnet block height of 12,965,000. The estimated time is for users’ reference only and is subject to change depending on block propagation times.
For further information, please refer to the following:
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Binance.US reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. By using our services you acknowledge and accept the risks of operating changes to digital asset protocols and agree that BAM Trading Services Inc. (“Binance.US”) is not responsible for such operating changes and not liable for any loss of value you may experience as a result of such changes in operating rules. You acknowledge and accept that Binance.US has sole discretion to determine its response to any operating change and that we have no responsibility to assist you with unsupported currencies or protocols.