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Bitfinex launched derivatives on the Ethereum Pow (
Bitcoin-Existle Bitfinex launched derivatives based on potential Ethereum forks on the consensus algorithms Proof-mail (POW) and Proof-OF-Stake (POS).
EthW and Eths split-tokens are available on the Bitfinex derivatives platform.
“We are pleased to provide our users with access to these new Ethereum split-tokens to help prepare for all opportunities as we approached the network,” said Paolo Ardoino, Technical Director of Paolo Ardoino.
Clients can create an asset in return for the equivalent amount in ETH. Reverse conversion is possible at any time. Products expires on December 31, 2022.
The exchange team has identified the following possible scenarios for new tokens:
- If the existing Ethereum network (on POW) will not change the consensus algorithm, the ETHS validity expires, and ETHW will exchange it for ETH;
- With a successful change in consensus on POS without the appearance of the ETH POW, will be provided in return for ETHS;
- With an option with a change in consensus on the main network and the launch of a new chain on Pow, both derivatives will be exchanged for ETH.
“EthW and Eths are risky products and can lose any value when repaying. Please carefully read the conditions and make sure that you understand the split-tokens available on the derivatives platform, ”the statement said.
At the end of July, miner Chandler GO expressed the idea of launching the branch of Ethereum, which will continue to work on the POW algorithm. The new network is designed to enable cryptocurrency miners to continue activities after the transition of the main blockchain to POS.
In early August, some exchanges, including Poloniex and Mexc, launched trading tokens of potential forks Ethpos (Eths) and Ethpow (EthW). Assets are traded in https://gagarin.news/ua/news/australias-fight-against-crypto-scams-has-reached-a-new-level/ the form of IOU debt receipts issued in a binding of 1: 1 to ETH.
Bitmex derivative platform has offered users futures based on Ethpow.
Recall that Ethereum developers planned The Merge approximately on September 15-16.
Against the backdrop of an approaching event, the head of TC Cooperative Bob Summerville doubted the realization of the Fork. Supporters of the project in response called the branching of the network “inevitable”.
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