Note: “The Merge” was successfully completed on September 15, 2022 at 2:42 p.m. EDT. Deposits & withdrawals for ETH and ERC20 tokens have resumed on the Ethereum Proof-of-Stake (PoS) chain.
Binance.US will support the upcoming Ethereum (ERC20) network upgrade from Proof-of-Work (PoW) to Proof-of-Stake (PoS) — an event commonly referred to as “The Merge” or “Ethereum 2.0”.
In the event that there are new forked tokens that result from the merge, the same rigorous evaluation process that any digital asset undergoes to be listed on Binance.US will be implemented.
What is The Merge?
The Merge is a major planned upgrade for the Ethereum Network named after the merge between the Ethereum mainnet and the Beacon Chain, a PoS consensus layer that will allow Ethereum to migrate from a PoW to a PoS consensus mechanism.
| Note Binance.US does not have any control or influence over the timing or outcome of The Merge. |
What happens after The Merge?
There are two possible scenarios after The Merge is completed:
- Scenario A: The Merge upgrade is successful and the Ethereum mainnet merges with Beacon Chain. Once the upgrade is deemed complete, Binance.US will reopen deposits and withdrawals for ETH and ERC20 tokens.
- Scenario B: The Merge upgrade results in a chain split, resulting in a PoW version and PoS version of the chain. In this highly speculative scenario, the ETH ticker will be reserved for the Ethereum PoS chain. Binance.US reserves the right to change or amend this notice at any time at its sole discretion, including details regarding how the chain split scenario is handled.
How do I prepare for The Merge?
No action is required for Binance.US customers to prepare for the merge as we will complete all upgrades on our users’ behalf. The trading of ETH and ERC20 tokens will not be affected during the network upgrade. In addition, Binance.US will implement all applicable technical updates for customers who hold ETH and ERC20 tokens in their Binance.US account.
The Merge features a consensus layer upgrade named “Bellatrix”, along with an execution layer upgrade named “Paris”.
| Note If you’re planning to make ETH and ERC20 token deposits and withdrawals, budget enough time to ensure your transactions will be completed ahead of the Bellatrix and Paris upgrades outlined below. |
Bellatrix Consensus Layer Upgrade
The Bellatrix upgrade is scheduled to take place at epoch 144,896 on the Beacon Chain on September 6, 2022, at approximately 4:34 a.m. PDT / 7:34 a.m. EDT.
- Deposits and withdrawals of ETH and ERC20 tokens will be temporarily suspended on September 6, 2022 at approximately 4 a.m. PDT / 7 a.m. EDT (estimate only).
- Deposits and withdrawals for ETH and ERC20 tokens will be reopened once Binance.US deems the upgraded networks to be stable.
Paris Execution Layer Upgrade
The subsequent Paris upgrade is estimated to take place at the Ethereum mainnet block height of 15,540,293, which is estimated to occur on September 15, 2022 at approximately 1:58 a.m. EDT.
- Deposits and withdrawals of ETH and ERC20 tokens will be temporarily suspended on September 14, 2022 at approximately 5 p.m. PDT / 8 p.m. EDT (estimate only), in preparation for the Paris upgrade.
- Deposits and withdrawals for ETH and ERC20 tokens will be reopened once Binance.US deems the upgraded networks to be stable.
Additional Information
- The Merge (Ethereum.org)
- Mainnet Merge Announcement (Ethereum.org)
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