Bitcoin Cash is expected to perform a hard fork protocol upgrade at 20:00 (GMT+8) on November 15, 2020. DigiFinex will support the BCH hard fork if it occurs. In order to reduce the potential trading risks of market fluctuations during the fork and fully guarantee the security of our users’ assets, we will adopt the following plans (the time involved will be notified through other announcements, please stay tuned):
This upgrade is expected to fork Bitcoin Cash out of two chains, BCHA (Bitcoin Cash ABC) and BCHN (Bitcoin Cash Node). Since there is no fair naming standard for the BCH fork in the current community, DigiFinex respects the opinions and consensus of the community and users and will set a transition period for the fork. After the community has formed a consensus on BCH naming, we will end the transition period and rename BCHA or BCHN.
I. To support the fork upgrade, DigiFinex will perform the following operations before it:
- Spot trading: Suspend all BCH trading pairsin spot market before the fork.
- Margin trading: Suspend BCH Margin loan services (Completed Now). Suspend all BCH Margin trading pairs and perform forced liquidation. It is recommended that usersfind a proper time to close their positions and cancel orders before November 13, 2020.
- Withdrawal & deposit:Suspend BCH deposits and withdrawals.
- Asset snapshot: Take a snapshot of BCH assets of DigiFinex accounts (Exchange, Swap, Margin) as the basis for candy distribution.
The system will automatically cancel orders and close positions at the specified time. Please take necessary risk control measures by canceling orders, closing positions or repaying loans in advance.
II. About perpetual swap trading
USDT-margined perpetual swap: It’s expected that US will suspend BCH/USDT trading pair at 11:00 (GMT+8) on Nov 15, 2020. Please cancel orders and close positions before this time.
- The BCH market price may fluctuate sharply recently, please take precautions in advance.
- DigiFinex will open BCHA and BCHN trading services after the candy distribution. Please pay attention to the follow-up announcement.
- The above is DigiFinex's plan based on the latest market information, community and user opinions and consensus to ensure the smooth operation of the market. The time involved will be notified through other announcements. DigiFinex reserves the right to make reasonable adjustments to this plan.
- Since there are still many uncertainties in the current fork, if one of the two parties decides to abandon the fork, DigiFinex will respect the opinions of the community and name the final winner BCH.
Thanks for your support!
Nov 3, 2020
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