Binance to distribute PoW Ethereum fork tokens to users

The cryptocurrency exchange Binance will distribute to ETH holders the PoW Ethereum fork tokens after the activation of The Merge.

We will provide further information regarding The Merge closer to the event.

Read the full updates here ⤵️https://t.co/7F534F5HP4

— Binance (@binance) September 13, 2022

“If the ETHW chain survives, Binance will meet all technical requirements relating to all users with ETH and WETH on their balances, and credit the fork token at a 1:1 ratio,” the exchange representatives wrote.

ETHW withdrawals will be available after some time — the exchange will announce this in a separate post.

Ahead of the expected September 15 activation of The Merge, the exchange will implement a number of additional measures, including the suspension:

• Deposit and withdrawal of WETH from September 14;
• Conversion of WETH to ETH.

Users who borrowed ETH will also have to repay the value of ETHW.

Holders of BETH will not receive PoW-Ethereum fork tokens.

warned of the forthcoming suspension of deposits and withdrawals of Ethereum and ERC-20 tokens amid the migration of the blockchain from the Proof-of-Work to the Proof-of-Stake.

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