BitLeek Notices

Regarding Chain Split Tokens' Distribution


  • administrators

    Dear Users,

    Since recently Bitcoin, Litecoin, and Ethereum will probably have forks, more users are asking Huobi Pro about whether we will release the related fork tokens. As an exchange, we try our best to protect every asset that you have, and you deserve. Meantime, we will distribute the assets that you deserve. So we want to declare that:

    1. Huobi Pro will take a snapshot of your assets before the fork height according to the information we capture. Afterwards, we will release fork assets, and after split chain becomes stable, we will support the deposit and withdrawal of fork assets. Please be assured that each fork asset will be distributed to related users.
    1. Being responsible to our investors, we will refer to the “Apply To List” rule and decide whether to list fork assets on our exchange. We will evaluate every fork token and open those qualified fork tokens for trading.

    3.  For different currencies and fork types, we have different requirements.

    3.1. To the possibly upcoming BTC fork (The same requirement is applied to LTC because the technology of LTC is similar to that of BTC.), we have the following requirements for the fork team:

    (1) Fork projects inform Huobi in advance (blockchain@huobi.com) and receive a clear response from Huobi Pro. To reduce the negative effects that forks cause to the community, we refuse unexpected forks.

    (2) Strong two-way transaction replay protection, which is enabled by default. This protection is able to make exchanges on one chain invalid on the other chains.

    (3) A clean break, such that the new chain cannot be “wiped out” by the original chain.

    (4) A modification to the block format, such that all wallets (including light clients) are required to upgrade to follow the hardforked chain.

    (5) Launch official client software before the hard fork is activated. Also, client software needs to pass open beta test and assessment.

    (6)  Split blockchain should support the original UTXO trading on the split chain before fork height.

     

    3.2. To the possibly upcoming ETH fork, we have the following requirements and solutions:

    (1) Since ETH is an underlying system that enables smart contracts and open sources on the blockchain. The chain already has hundreds of ERC20 tokens, and once ETH is split, all the ERC20 tokens will be split as well. This will cause the disorder of ETH ecosystem. So we require that all ETH hard fork projects should receive the support of all ERC20 project teams. 

    (2) Strong two-way transaction replay protection, which is enabled by default. This protection is able to make exchanges on one chain invalid on the other chains.

    (3) A clean break, such that the new chain cannot be “wiped out” by the original chain.

    (4) A modification to the block format, such that all wallets (including light clients) are required to upgrade to follow the hardforked chain.

    (5) Launch official client software before the hard fork is activated. Also, client software needs to pass open beta test and assessment.

    Again, we do not encourage any random forks or premining. The type and price of forks are quite unstable and risky. We hope that users can have a full understanding of the investment risks of fork coins and participate while undertaking risks by themselves.

    Last but not least, Huobi Pro takes users’ benefits as a priority and always provides users with secure and trusted service. We make every effort to protect your assets.

    Huobi Pro

    December 18, 2017

    https://www.huobi.com/p/api/contents/pro/notice/765


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