About ETH 2.0 Instant Exchange
- Exchange ratio: 1 ETH: 1 BETH
- Minimum amount: 0.1 ETH
- BETH Price: BETH trading is now available on Huobi Global with BETH/USDT and BETH/ETH pairs
- Reward distribution: The BETH earnings from the ETH 2.0 Staking chain will be distributed on T+1 day according to the snapshot of BETH holdings. The APY is estimated to be between 4% and 20%, which is subject to the actual amount received
- Forfeiture risk responsibility: ETH 2.0 exchange comes with BETH forfeiture risk that will be undertaken by Huobi Global. Users are not liable for such costs
- According to ETH 2.0 chain rules, ETH will be exchanged into BETH after the ETH 2.0 exchange and cannot be redeemed during the staking period
- Transfer is not supported during ETH 2.0 Phase 0 and BETH cannot be withdrawn. The availability of deposit and withdrawal features will be determined by the ETH 2.0 development progress, which is expected to take about 1-2 years
Transaction & Snapshot Rules for BETH
- There is a 48-hour lockup period for BETH after the exchange, during which earnings will be generated but is not available for trading. After 48 hours, BETH will be automatically unlocked and be made available for trading
- As BETH is an equity token, users cannot receive staking rewards from ETH 2.0 chain if they sell BETH before the snapshot time
- A snapshot of users' BETH balance will be taken at a random time around 24:00 every day, and the staking rewards from ETH 2.0 chain will be distributed to the user's Spot account on T+1 day according to the BETH balance in the snapshot. If there is an abnormality in the ETH Beacon chain, the reward distribution will be subject to the actual situation on the chain
At present, Ethereum is a proof-of-work (PoW) blockchain network. Due to its high mining cost, it requires a significant amount of hardware and power resources, which made it difficult for ordinary users to participate and results in a higher level of centralization.
- BETH, or Beacon ETH, refers to the token of Beacon Chain, which was obtained by users participating in ETH 2.0 staking. Users can enjoy staking rewards from ETH 2.0 chain every day according to their BETH holdings on Huobi Global
Phase 0 is the genesis phase of ETH 2.0. Then, the Beacon Chain is activated and becomes the coordinator and manager of the interactions among the 64 shard chains in Phase 1. In Phase 1.5, the proof-of-work (PoW) chain Ethereum 1.x will be merged into ETH 2.0 in the form of a sharded chain. Full features including smart contracts will be available in Phase 2.