Dear CoinCola user,
Ethereum’s Proof-of-Work (PoW) chain will be migrated to the Proof-of-Stake (PoS) chain upon hitting the Terminal Total Difficulty (TTD) value of 58750000000000000000000, and the ETH Merge will be completed approximately at 2022-09-15 02:30 (UTC+1). The estimated time is for users’ reference only and is subject to change depending on the block propagation times.
A new token might be created during the ETH Merge, CoinCola has taken the following steps to reduce the trading risks caused by price volatility and keep the safety of user assets.
1. Deposits and withdrawals of ETH and USDT
CoinCola will suspend deposits and withdrawals of ETH and USDT on 2022-09-15 (UTC). The specific suspension time will be subject to block propagation times.
2. Trading services for ETH and USDT
OTC/P2P trading: OTC/P2P trading for ETH and USDT will not be affected.
Exchange trading: Exchange trading for ETH/USDT and ETH/BTC will not be affected.
Margin trading: Margin trading for ETH/USDT will not be affected. However, CoinCola will suspend ETH/USDT margin borrowing before the ETH Merge. Note: As ETH prices might experience sharp price swings during the ETH Merge, please cancel the order, close your positions, or increase your margin in advance to reduce the risk of forced liquidation.
3. About the ETH Merge
There are two scenarios that will take place after the ETH Merge.
No new token is created during the ETH Merge. CoinCola will resume deposits and withdrawals of ETH and USDT once we confirm that the Ethereum Mainnet is stable and secure.
The new token is created during the ETH Merge. CoinCola will treat the token created on the Ethereum PoS chain as "ETH" and treat the token generated on the Ethereum PoW chain as a forked token. Before the ETH Merge, the forked token creator may take snapshots of your ETH balances. The forked token will then be airdropped to you at a 1:1 ratio to your ETH holdings. Note: CoinCola does not support the transaction of the forked token. Users need to withdraw the forked token. More details will be announced in another announcement.
For any questions, kindly feel free to reach the official CoinCola customer support via the CoinCola App or the CoinCola website. CoinCola will continue to provide you with safe and reliable trading services.