BW.com will support the BitcoinCash (BCH) protocol upgrade scheduled at block height 1605441600, approximately around 20:00 on November 15, 2020(UTC+8). This upgrade might split Bitcoin Cash into two chains: BCHA (Bitcoin Cash ABC) and BCHN (Bitcoin Cash Node). Users who hold Bitcoin Cash(BCH) during the fork might be able to get two assets.
BW will support this upgrade, we will adopt the following plans:
- At 11:00 （UTC+8） on November 12, 2020, BCH will stop borrowing money.
- At 16:00 （UTC+8） on November 13, 2020, the system will trigger the mandatory return of currency. Please visit BCH / USDT
Users of leveraged borrowed assets (BCH and USDT) must prepay them before 16:00 （UTC+8） on November 13, 2020. If not, the system will compulsorily close the position for repayment at 16:00 （UTC+8） on November 13, 2020.
- BCH spot trading and leverage trading services will be suspended at 14:00 （UTC+8) on November 14, 2020. At that time, the system will automatically cancel the orders and the relevant assets will be returned to your account.
- BCH charging business will be suspended at 14:00 （UTC+8) on November 14, 2020.
2. Contract transaction
BW will terminate the BCHABC-USDT perpetual contract at 17:00 (UTC+8) on November 13, 2020.
BW BCHABC-USDT perpetual contract settlement scheme:
The open positions of BCHABC-USDT contract will be closed with the average value of corresponding index price 60 minutes before delivery as the delivery price, and all user orders will be cancelled. If the index price is abnormally manipulated 60 minutes before delivery, BW may adjust the final delivery price to a reasonable level according to the actual situation.
It is suggested that contract users should take the initiative to cancel or close the BCHABC-USDT perpetual contract before 17:00 (UTC+8)) on November 13, 2020.
After the completion of BCH hard bifurcation, BW will decide the launch contract according to the situation of the hard bifurcation, and the contract launch information and online time will be released in the form of announcement.
3. Split asset treatment
- The platform will take a system snapshot of the BCH of BW user account at 20:00 （UTC+8) on November 15, 2020. As the basis for distribution of bifurcated assets, it is recommended that you transfer BCH assets to the spot account in advance.
- After the bifurcation is completed, we will distribute the bifurcated assets to the user at a ratio of 1:1 according to the BCH positions at the time of the snapshot. As there is no fair standard for naming BCH bifurcation in the community, BW will set up a bifurcation transition period, and we will rename the name after the community has reached a consensus on naming BCH.
- After the bifurcation is completed, we will open BCH's charging business, spot trading, leverage trading and contract trading as soon as possible according to the stability of the network. The charging service and trading service of bifurcated assets will be announced separately.
Based on the current market information, BW makes the above plan after comprehensive consideration. If the market background changes greatly or the bifurcation time is delayed, the platform will make corresponding adjustments.
Risk tips: digital asset trading is a high-risk trading method, which may lead to a partial or total loss. Please consider carefully the degree of risk that users can take before deciding to trade digital assets. BW platform will not bear any direct or indirect loss caused by relying on this information. BW platform does not bear the responsibility of guarantee, compensation, and so on.
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BW, Bit World, Better World
Nov 12, 2020
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