The Ethereum Merge is scheduled to happen in Q3/Q4 2022 and we wanted to provide an update on how this might affect you as LedgerX participant. The Ethereum Mainnet will merge with the Beacon Chain Proof of Stake (PoS) system, marking the end of Proof-of-Work for Ethereum, and the complete transition to Proof-of-Stake. The Merge is estimated to occur on September 15th, 2022.
How will this affect Users on LedgerX?
During the Merge, we anticipate a brief maintenance window that could delay your deposits and withdrawals of ETH with LedgerX. Because all transactions must be fully collateralized, please make sure you have sufficient ETH already on deposit to support any anticipated trading. To the extent you expect you will need to withdraw your ETH, please also anticipate that any requested withdrawals during the Merge may be delayed.
Any funds held in your wallet before the Merge will still be accessible after the Merge. Users will still be able to trade on the platform. No action is required for users on LedgerX.
How will LedgerX handle any unplanned forks?
Digital assets deposited with LedgerX are in custody with BitGo. BitGo is closely monitoring the developments which could potentially result in new forked tokens. Please refer to BitGo's blog post for more detailed information on how they will handle unplanned forks and review our Digital Currency Fork Policy found under Rule 11.14 in our Rulebooks. We will update you on any outcomes and provide more details if necessary.