Dear CoinCola user,
At approximately 2020/11/15 12:00 PM (UTC), the Bitcoin Cash (BCH) blockchain is scheduled to undergo a hard fork. It is likely that there is a chain-split between the two main BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN), making this a contentious hard fork that may result in an additional token.
As such, to reduce the trading risks brought about by price volatility and to maintain the safety of user funds during the hard fork, CoinCola will handle the hard fork as per the following:
At 9:00 am UTC on Nov 14, the BCH of Exchange Trading services will be suspended and all market orders will be canceled.
1) At 9:00 am UTC on Nov 9, the BCH margin lending function will be suspended.
2) Users who have borrowed coins from BCH/USDT and BCH/BTC pairs in margin trading (including borrowing BCH, USDT, and BTC currency pairs),are required to return the coins before 7:00 am UTC on Nov 14. At that time, a mandatory repayment will be triggered by the system for loans that are not returned.
3) At 9:00 am UTC on Nov 14, the BCH of Margin Trading services will be suspended and all market orders will be canceled.
At 9:00 am UTC on Nov 14, the BCH of OTC Trading function will be suspended.
4.Deposit and withdrawal
At 10:00 am UTC on Nov 14,BCH deposit, withdrawal, and asset transfer function for OTC accounts and exchange accounts will be suspended.
1) If the fork results in two competing chains, CoinCola will credit users with BCH from the chain with the most work done. We will then also credit users with the coin from the minority chain at a ratio of 1:1 based on the snapshot of BCH balances at 2020/11/15 12:00 PM (UTC) as stated above. CoinCola does not support the trade of the new fork coin, users need to withdraw it, and another announcement will be made at that time;
2)If no new coin is created, CoinCola will then resume BCH deposits and withdrawals as soon as possible.
1) A further announcement will be made regarding the timing of deposits and withdrawals resuming, as well as further information about the BCH chain split that may affect the above.
2) The above is CoinCola's plan based on the latest market information, community and user opinions and consensus to ensure the smooth operation of the market. CoinCola reserves the right to make reasonable adjustments to this plan.
3) Since there are still many uncertainties in the current fork, if one of the two parties decides to abandon the fork, CoinCola will respect the opinions of the community and name the final winner BCH.
If you have any questions, please consult WhatsApp:+85251261971.CoinCola is committed to providing you with a safe and reliable trading platform.
Nov 9, 2020