Crypto trading platform OKX has released a comprehensive service update to prepare users for the upcoming ETH Merge. The announcement, shared via an official press release, outlines OKX’s protocols, asset protection measures, and key details about the highly anticipated Ethereum network transition.
Key Preparations by OKX for the ETH Merge
New Token Considerations
OKX warns that a new token may emerge during the hard fork. To mitigate trading risks caused by potential price volatility, the platform has implemented multiple precautionary steps. These include:
- Asset Protection: OKX commits to safeguarding user assets throughout the transition.
- Technical Support: The team is prepared to assist users with any Merge-related technical issues.
👉 Discover how OKX ensures seamless crypto transitions
Timeline and Phases of the ETH Merge
Expected Merge Dates
The Ethereum Foundation confirmed the Merge will activate when the Ethereum Mainnet reaches block height 15,540,293, projected between September 10–20, 2022. The process unfolds in two phases:
Bellatrix Upgrade (Consensus Layer)
- Activates when the Beacon Chain hits epoch 144,896 (~September 6, 2022 UTC).
- Prepares the Beacon Chain for the Merge.
Paris Upgrade (Execution Layer)
- Triggers at a Terminal Total Difficulty (TTD) of 58,750,000,000,000,000,000,000 (~September 15, 2022 UTC).
- Transitions Ethereum from proof-of-work (PoW) to proof-of-stake (PoS), merging the execution layer into the Beacon Chain.
OKX’s User Guidelines for the Merge
Asset Security Measures
- Deposit ETH Early: Users are urged to transfer ETH to OKX ahead of the Merge to avoid disruptions.
- Service Suspensions: OKX will temporarily pause ETH and ERC-20 token deposits/withdrawals during the upgrades.
Post-Merge Scenarios
- No New Tokens: Services resume after confirming network stability.
New Tokens Created:
- PoS chain tokens will be labeled as "ETH."
- PoW chain tokens will be treated as forked assets.
Trading Adjustments
- Margin Trading: ETH cross/isolated margin pairs remain unaffected, but margin borrowing services may be suspended.
- Options Trading: ETHUSD options trading continues, but users are advised to manage risks due to potential price swings.
👉 Learn more about ETH Merge trading strategies
FAQs About the ETH Merge and OKX’s Role
1. Will the ETH Merge affect my existing ETH holdings on OKX?
No. OKX will safeguard all user assets during the transition. Any new tokens created will be credited accordingly.
2. When should I deposit my ETH to OKX?
Deposit ETH before September 10, 2022, to ensure seamless processing.
3. How long will withdrawals be paused?
Services will resume once OKX confirms the Ethereum Mainnet is stable, typically within hours of the Merge’s completion.
4. Are there risks to trading ETH during the Merge?
Volatility is expected. OKX recommends reducing leverage or increasing margins to mitigate risks.
5. Will OKX support the potential Ethereum fork?
Yes. Forked tokens will be evaluated and credited based on network outcomes.
6. How can I stay updated on OKX’s Merge protocols?
Monitor official OKX announcements via their platform or OKX’s news section.