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Huobi Global's Response to Potential ETH Hard Forks
Dear Valued Users,
Huobi Global has noticed discussions on the upcoming Ethereum blockchain hard forks. A hard fork is a blockchain network upgrade that indicates the decentralization and blockchain ecosystem development. We respect the community consensus on the hard forks. However, we do not encourage the forks with no tangible innovation and improvement, and we oppose any form of pre-mining behaviors. These worthless behaviors will cause community divergence, industry confusion, and misunderstanding on the part of users.
As the world's leading crypto trading platform, Huobi Global holds an objective and neutral attitude towards the spinoff assets (including but not limited to ETH) created through the hard forks in the principle of ensuring the security of users' assets. As long as the forked assets meet our security requirements, we will take the first move to support users to hold the assets and earn rewards. Trading services for those coins under the spotlight will be available as soon as possible per our rules after we get an overall picture of users' opinions.
Huobi Global will distribute forked assets (including but not limited to ETH) if they meet the following requirements:
1. A hard fork project team notifies Huobi Global and receives a clear reply before the hard fork is performed.
2. Two-way replay protection is implemented by default; that is, the trading on one forked chain is invalid on the other.
3. The new chain will not be covered or eliminated by the original chain.
4. The trading on the two forked chains should be differentiated so that the upgrade is required for all wallets (including light-weight nodes) to support the new chain.
5. Before a hard fork starts, an official client software which has passed the public test and evaluation should be published.
To alleviate community divergence and market doubts, Huobi Global calls on the industry, especially the mainstream platforms, to conduct pre-evaluations on the hard forks based on the above criteria and develop sound standards to facilitate the distribution and listing of forked tokens.
We hereby declare again that Huobi Global does NOT encourage any irresponsible behaviors such as arbitrary forking and pre-mining that are inconducive to the development of the industry. We will always prioritize the rights and interests of our users and will remain committed to providing you with the most secure and reliable services and safeguarding your assets round the clock.
Risk Reminder: Trading digital assets and digital asset derivatives comes with high risks due to significant price volatility. Please fully understand all the risks and make prudent decisions before trading. Please read our detailed risk reminder. Huobi will not be responsible for your trading losses.
August 5, 2022
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Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets involves risk. Please read our Risk Reminder text here.