HyperPay’s Solutions Against BCH Hard Fork
09 Nov 2020
Dear users:
As the Bitcoin Cash community will undergo a hard fork on November 15, 2020 (UTC+8), the local upgrade is expected to fork Bitcoin Cash out of two chains, BCHA (Bitcoin Cash ABC) and BCHN (Bitcoin Cash Node). In order to protect the rights and interests of wallet users to the greatest extent and avoid uncertain risks caused by hard forks, HyperPay now proposes solutions for each business line of the platform described as follows:
1. Deposit and withdrawal
HyperPay will suspend the BCH deposit and withdrawal business at 16:00 (UTC+8) on November 12, 2020.
2. Instant Exchange
HyperPay will suspend the instant exchange of BCH trading pairs at 16:00 (UTC+8) on November 12, 2020.
3. Asset Snapshot
HyperPay plans to take a snapshot of the assets in the BCH account at 16:00 (UTC+8) on November 12, 2020, as the basis for the distribution of forked candy.
4. About BCH fork
After the fork is completed, we will refer to the trading prices of the forked currency pairs on major exchanges, select the chain with the higher price to inherit the BCH name, and airdrop the tokens of the other chain to the user account at a 1:1 ratio in the light of the assets snapshot. The new BCH assets will still keep in the user's accounts.
5. Notices
1. After the fork is completed, the re-opening time of deposit of the new BCH and fork tokens will be notified through official announcement.
2. As there are still many uncertainties in the current fork, if either one party decides to abandon the fork, we will respect the wishes of the community and name the final winner BCH.
The solutions above is made based on current market information to ensure the smooth operation of the market to the greatest extent possible. HyperPay reserves the right to make reasonable modifications and adjustments to these solutions.
HyperPay Team
November 9, 2020
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