Updates Regarding the Support of the Ethereum (ETH) Network Upgrade & Hard Fork

Fellow Binancians,

Please note the below updates on the upcoming Ethereum (ETH) network upgrade and hard fork, which will happen at ETH mainnet block height of 13,773,000 or at approximately 2021-12-09 20:00 (UTC).

Binance has taken the following additional steps to reduce trading risks brought about by price volatility and to ensure the safety of user funds during the hard fork.

1. Deposits & Withdrawals on the ETH network

Deposits and withdrawals of all tokens on the ETH network will be suspended starting from approximately 2021-12-09 19:55 (UTC) as per the previous announcement. Please ensure that you leave sufficient time for your ETH and other ERC-20 tokens transfers to be fully processed prior to the above time. We will handle all technical requirements for users holding ETH and other ERC-20 tokens on Binance.

2. ETH and Other ERC-20 Tokens Spot & Margin Trading 

Spot trading: ETH and other ERC-20 tokens spot trading will not be affected. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.

Margin trading: ETH cross and isolated margin trading will not be affected. However, Binance will suspend ETH borrowing from 2021-12-08 08:00 (UTC) to approximately 2021-12-09 23:59 (UTC). Please note that liquidations remain possible under extreme price volatility.

3. ETH Futures Trading

The trading of USDⓈ-M and COIN-M ETH Futures Contracts will continue unaffected. Please be aware that in the event of extreme price movements or deviation from the price index, Binance will undertake additional protective measures, including but not limited to: 

• Adjusting the margin tiers including maximum leverage value, position value and maintenance margin in each tier
• Updating the funding rates including the interest rate, premium and capped funding rate
• Changing the constituents of the price index 
• Using the Last Price Protected mechanism to update the Mark Price. For further details, please refer to Price Index. 

4. Binance Leveraged Tokens - ETHUP & ETHDOWN

The trading of ETHUP/USDT and ETHDOWN/USDT trading pairs will continue unaffected. Please be aware that in the event of extreme price movements, token subscription and redemption may be suspended.

5. Binance ETH/USDT Options (App)  

ETH/USDT Options trading on the Binance App will continue unaffected.

6. Convert & OTC Portal 

ETH trading on the Convert & OTC Portal will continue unaffected.

Binance will suspend ETH OTC borrowing from 2021-12-08 08:00 (UTC) to approximately 2021-12-09 23:59 (UTC). 

7. Binance Crypto Loans 

Binance Crypto Loans will suspend ETH borrowing from 2021-12-08 08:00 (UTC) to approximately 2021-12-09 23:59 (UTC). 

Further notes:

• The Ethereum network upgrade and hard fork will take place at Ethereum mainnet block height of 13,773,000. The estimated time for the closure of the network and hard fork is for users’ reference only and is subject to change depending on block propagation times.

For further information, please refer to the following:

• Binance Will Support the Ethereum (ETH) Network Upgrade & Hard Fork
• Arrow Glacier Network Upgrade Specification
• Vallhallan Threshold (v1.10.12)

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.

Thanks for your support!
Binance Team

2021-12-07

Trade on-the-go with Binance’s crypto trading app (iOS/Android)

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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.