Dear KuCoin Wallet users,
Ethereum’s Proof-of-Work (PoW) chain will migrate to the Proof-of-Stake (PoS) chain upon hitting the Terminal Total Difficulty (TTD) value of 58,750,000,000,000,000,000,000. KuCoin Wallet will support the upcoming Ethereum merge.
The execution layer’s upgrade (Paris) is expected to occur at 2:50 AM (UTC), September 15th, 2022. The exact time at which TTD is reached depends on the proof-of-work hash rate.
Due to the uncertainty caused by node upgrade during the ETH merge, KuCoin Wallet advises users to suspend ETH and ERC20 token transactions during the merge period to maintain the safety of users’ funds.
What does KuCoin Wallet suggest users do?
KuCoin Wallet will support the ETH(PoS) immediately after the ETH Merge is completed. To ensure the safety of users’ assets, KuCoin Wallet advises users to suspend the transfer and swap functions for ETH wallets during the Merge from approximately 1:00 to 5:00 AM(UTC), September 15, 2022.
The actual time to resume the related function will be announced separately after the Ethereum network is successfully upgraded to PoS.
FAQs
1. What may happen after the Merge?
There are two likely scenarios to occur:
Scenario A: No new token is created.
Scenario B: The chain splits into two competing chains, creating a new token.
2. Will KuCoin Wallet support the potential forked PoW chain?
No. The migration to PoS will improve nearly all metrics of the Ethereum network, paving the way for future innovation of applications and experimentation. Thus, KuCoin Wallet will only support the Ethereum PoS chain.
3. Are my assets in KuCoin Wallet safe during the merge?
Yes. KuCoin Wallet is a self-custody wallet in which KuCoin Wallet gives users full control over their assets through the use of KuCoin Exchange’s advanced security technologies and Hacken security audit certification.
4. When will the ETH related functions be resumed？
The actual time to resume the related functions will be announced separately. Please follow our official channels for the up-to-date announcement.
5. KuCoin Exchange supports the new forked token. Check this announcement for details.
Security Tips
1. Beware of scams during the Merge. Please keep the secret phrase properly and do not reveal them.
2. Join our community to get the latest update regarding the Merge:
Twitter:https://twitter.com/KuWallet
Telegram:https://t.me/kuwallet
Discord:https://discord.gg/958cKHaG2m
About KuCoin Wallet
KuCoin Wallet is a secure and easy-to-use crypto wallet that supports multi-chain aggregation powered by the KuCoin ecosystem. With the security expertise of KuCoin and the leading security technology audited by Hacken, KuCoin Wallet is a self-custody wallet with users having full control of their assets. KuCoin Wallet provides the easiest way for users to manage multi-chain assets and enables them to buy, store and view NFT collections directly within the wallet. KuCoin Wallet is a gateway to the world of Web3 for all crypto users.
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