As Bitcoin Cash has hard-forked into 2 separate chains - Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV), OKX will distribute BCHABC and BCHSV to all eligible users at a ratio of 1 BCH = 1 BCHABC + 1 BCHSV according to the snapshot taken at 5:35am-5:40am Nov 16, 2018 (CET). For the ticker “BCH”, we will monitor the situation and users’ feedback, and consider using it to designate either of the newly split token on a later date.
Starting Nov 19, 2018 (CET), OKX will:
1. The claim process for BCHABC and BCHSV will start from 5am Nov 19, 2018 (CET). You will be able to claim the tokens under Account > My Wallet > BCHABC & BCHSV. Tokens will be sent to your wallet directly after claiming. The original BCH balance and trading pairs will NO longer be available.
2. Trading pairs BCHABC/USDT, BCHABC/BTC, BCHABC/ETH, BCHABC/OKB, BCHSV/USDT, BCHSV/BTC, BCHSV/ETH, and BTCSV/OKB will open from 8am Nov 19, 2018 (CET) by using the call auction mechanism (see details here). While fiat, margin, and futures trading of BCHABC and BCHSV will be temporarily unavailable.
3. Regarding the settlement of margin trading pair BCH/USDT, if you have an outstanding loan amount, you will receive your BCHABC and BACSV after the settlement. Details are as follows:
- Interests are accrued till Nov 15, 2018 (including this day)
- Settlement will happen from 9am Nov 19, 2018 to 5am Nov 30, 2018 (CET). During this time, our support team will contact you to complete the settlement.
- If you have an outstanding USDT loan amount: if there are not enough funds in your BCH margin trading account, you will have to repay the amount by converting your BCHABC and BCHSV distribution into USDT according to the token trading market price of that time. If it is still not enough to repay your loan, OKX will cover this part of loss.
- If you have an outstanding BCH loan amount: you will have to repay the amount in BCHABC and BCHSV based on the ratio 1 BCH = 1 BCHABC + 1 BCHSV. First, the USDT in your margin account will be converted to BCHABC and BCHSV according to the token trading market price of that time to repay the amount. Then, if it is not enough, you will have to cover the amount by your BCHABC and BCHSV distribution. If it is still not enough to repay your loan, OKX will cover this part of loss.
- We deeply apologize for the margin account settlement due to force majeure of BCH hard-forking into 2 chains. As a gesture of goodwill, we will waive the affected users’ margin trading interests for one month (no limit on the type of token). You can claim and use this offer from 5am Dec 1, 2018 to 5am Dec 31, 2018 (CET).
We will open the deposits and withdrawals of BCHABC and BCHSV after we confirm the security and viability of the network. Please stay tuned to our announcements for updates.
At last, please rest assured that your BCHABC and BCHSV will remain secure on OKX.
Thank you for your continued support.
Nov 18, 2018
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