Ongoing Spot Campaigns_THE:XX Platform

DearKuCoinUsers,

Ethereum’sProof-of-Work(PoW)chainwillmigratetotheProof-of-Stake(PoS)chainuponhittingtheTerminalTotalDifficulty(TTD)valueof58750000000000000000000.KuCoinwillsupportEthereumProof-of-Work(POW)mergetoProof-of-Stake(POS).

Theconsensuslayer’supgrade(Bellatrix)isscheduledforepoch144,896ontheBeaconChainat11:34:47onSeptember6,2022(UTC).

Theexecutionlayer'supgrade(Paris)isexpectedtooccurbetweenSeptember10-20,2022.TheexactdateatwhichTTDisreacheddependsontheproof-of-workhashrate.ThecurrentestimationliesattheETHmainnetblockheightof15,540,293,orapproximatelyat2022-09-1415:51:02(UTC).

Asanewtokenmightbecreatedduringahardfork,KuCoinhastakenthefollowingstepstomaintainthesafetyofuserfunds.

Thearrangementsareasfollows:

1.ETHDeposits&Withdrawals

KuCoinwillsuspendthedepositandwithdrawalforETHandERC-20tokensatapproximately:

11:00onSeptember6,2022(UTC)fortheBellatrixconsensuslayerupgrade15:51onSeptember14,2022(UTC)fortheParisexecutionlayerupgradeTheactualtimetosuspendthedepositandwithdrawalwillbeannouncedseparately.

2.RegardingtheMerge

ThetwolikelyscenariostooccurwiththeEthereum(ETH)Mergeare:

ScenarioA:

Nonewtokeniscreated.KuCoinwillthenreopendepositsandwithdrawalsforETHandERC-20tokensassoonaspossible.Afurtherannouncementwillbeposted.

ScenarioB:

Thechainsplitsintotwocompetingchains,creatinganewtoken.The“ETH”tickerwillbeusedfortheEthereumPoSchain.KuCoinwillairdropthenewforkedtokentotheusersbasedonthesnapshotofETHbalancesbeforetheParisexecutionlayerupgradeandwillsupportwithdrawalsfortheforkedtoken.Thedetailsrelatedtothisairdropwillbeannouncedseparatelyassoonaspossible.

3.ETHandERC-20TokensSpot&MarginTrading

Spottrading:SpottradingforETHandERC-20tokenswillnotbeaffected.KuCoinremindsyoutotakesufficientriskmeasuresaspricevolatilityisoftenhighduringcontentioushardforks.

Margintrading:

1.TradingforETHCrossandIsolatedMarginpairswillnotbeaffected.

2.KuCoinwillsuspendlendingandborrowingservicesofETHbeforetheMerge.

IfyouhaveanyoutstandingETHloansatthetimeofthesnapshot,youwillhavetoreturntheforkedtokens,regardlessofbeinglistedonKucoin.Therefore,itisrecommendedthatyourepayyourETHloansinadvance!

Toprotectthefairnessoftradingandusers'interest,ifyoufailtorepaytheforkedtokensintime,KuCoinreservestherighttosettletheoutstandingbalanceregardingtheforkedtokensunderyourmarginaccountwiththelatestmarketpriceandreturntheforkedtokens.

3.Ifthereisanyrelevantupdate,itwillbenotifiedseparatelyintheformofanannouncement.

4.ETHLeveragedTokens–ETH3L,ETH3S

ThetradingofETH3L/USDTandETH3S/USDTtradingpairswillnotbeaffected.

Duringthemergeperiod,KuCoinreservestherighttosuspendthetrade,subscription,andredemptionofETH3LandETH3S.

KuCoinremindsyoutotakesufficientriskmeasuresaspricevolatilityisoftenhighduringcontentioushardforks.

5.ETHFuturesTrading

BothUSDT-marginedandCOIN-marginedETHcontractswillnotbeinfluenced.Toprotectusers’rightsandinterests,KuCoinwillmakeanextrariskcontroloverETHcontractsduringtheupgrade.Involvedadjustmentsincludebutarenotlimitedto:maxleverage,positionsizelimit,maintenancemargin,andpriceindexconstituents.Foranychangesontheadjustments,relatedfollow-upstothissubjectwillbeannouncedseparatelyassoonaspossible.Ifanewtokeniscreatedafterthehardfork,userswhoholdETHintheirFuturesAccountsbeforethehardforkwillreceiveanairdropofthenewtoken.Ifthereareanychangestotheunderlyingassetsofthecontracts,KuCoinwillprovidefurtherinformationinthefollowingannouncement.KuCoinremindsyoutotakesufficientriskmeasuresaspricevolatilityisoftenhighduringcontentioushardforks.

6.KuCoinConvert

ETHConvertwillnotbeaffected.

7.KuCoinPool

AftertheMerge,KuCoinPoolwilldelisttheETHminingservice.UsersoftheETHPoolcantransfertheirhashratetotheETCPool.

8.KuCoinTradingBot

ETHtradingonTradingBotwillnotbeaffected.Inthecaseofanewtokenbeingcreated,KuCoinwillsnapshotthetradingbotaccountandairdropthenewtokenstotheSpotaccount(Mainaccount),

9.KuCoinEarn

KuCoinEarnwillnotbeaffected.However,inthecaseofanewtokenbeingcreated,KuCoinwillsnapshottheearnaccountandairdropthenewtokenstothespottradingaccount.

ForConvertETH2,yourETH2stakingrewardswillbedistributedregularly.However,intheeventofScenarioB,ETH2holdersmayormaynotreceivepotentialairdropsfromtheforkedchain,dependingonhowtheforkedchainhandlesETH2.0depositingcontracts.Thedetailsrelatedtothisairdropwillbeannouncedseparatelyassoonaspossibleifneeded.

PleaseNote:

1.Tokensinpendingdepositorwithdrawalatthetimeofthesnapshotswillnotcounttowardsyourbalance.KuCoinwilltaketheactualassetsinusers’accountsasthesnapshotfordistribution.

2.ThesnapshotrecordshaveincludedbalancesinTrading/Margin/TradingBot/Futures/FinancialAccount.Therefore,ifthechainsplitsintotwocompetingchainsandanewtokeniscreated,thenewtokenwillbedistributedtoqualifiedSpotaccountsofusers.

3.TheParisexecutionlayerupgradeisestimatedtotakeplaceattheETHmainnetblockheightof15,540,293.Theestimatedtimeisforusers’referenceonly;theactualtimeforthemergeisbasedontheannouncementfromEthereum.

Forfurtherinformation,pleaserefertothefollowing:

TheMerge

MainnetMergeAnnouncement

Thankyouforyoursupport!TheKuCoinTeam

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金宝趣谈

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