Dear Community Users,
The Bitcoin Cash (BCH) network protocol is scheduled to undergo a hard fork upgrade on November 15, 2020, at 20:00 (UTC+8). In the event of a fork, UPUPEX Exchange will fully support this BCH upgrade and potential chain split. To mitigate trading risks caused by extreme market volatility and safeguard user assets, we’ve outlined the following measures:
1. Spot Trading
The upgrade may result in two chains:
- BCHA (Bitcoin Cash ABC)
- BCHN (Bitcoin Cash Node)
Since there’s no community-wide consensus on naming conventions, UPUPEX will implement a transition period until a clear consensus emerges.
Key Actions:
✅ Trading Pairs: BCH/USDT and BCH/BTC trading pairs will be suspended before the fork.
✅ Deposits/Withdrawals: BCH deposits and withdrawals will be paused prior to the upgrade.
✅ Asset Snapshot: A snapshot of BCH holdings will be taken to determine eligibility for fork-derived tokens (e.g., BCHA/BCHN).
👉 Learn more about BCH fork preparedness
2. Contract Trading
To reduce uncertainty, UPUPEX will delist and settle the following contracts on November 15, 2020, at 11:00 (UTC+8):
- BCHUSDT Perpetual Contract
- BCH Coin-Margined Perpetual Contract
⚠️ Note: Open positions will be automatically closed at market price at the specified time.
Important Reminders
🔹 Market Volatility: Expect significant price fluctuations around the fork. Plan accordingly.
🔹 New Listings: Trading for BCHA/BCHN will commence post-fork, subject to further announcements.
🔹 Contingency: If either chain abandons the fork, UPUPEX will adopt the prevailing chain as BCH.
FAQ Section
Q1: Will I receive fork-derived tokens?
A: Yes, if you hold BCH during the snapshot. Distribution details will follow.
Q2: When will BCH trading resume?
A: After network stability is confirmed. Follow our official channels for updates.
Q3: How does UPUPEX ensure asset safety during forks?
A: We employ snapshots, suspend high-risk services, and monitor network consensus.
👉 Explore secure crypto trading strategies
Risk Disclosure:
Cryptocurrencies are volatile investment products. Assess your risk tolerance and invest wisely.
UPUPEX Exchange
November 3, 2020
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