Huobi Global's Supplementary Notice on Supporting the Upcoming Ethereum Merge
Dear Huobi Global Users,
We refer to our previous notice on "Supporting the Upcoming Ethereum Merge" (View details) published on August 28, 2022, and make the following changes to the Notice based on the latest arrangements with our margin trading services:
1. Suspension of margin loan services
From 2022-09-09 12:00 (UTC) to 2022-09-16 00:00 (UTC), loan services for ETH cross and isolated margin trading will be temporarily suspended. ETH margin loans (cross and isolated) incurred before 2022-09-13 01:59:59 (UTC) will not be affected.
2. Premature repayment
Please make sure to repay any outstanding ETH loans before 2022-09-13 01:59:59 (UTC) to avoid any losses incurred by the liquidation. To avoid causing significant market price fluctuations, the closing of positions will be carried out in different randomly-grouped batches. The prices for closing the ETH positions are based on market prices.
3. Forced liquidation
On 2022-09-13 from 02:00 to 04:00 (UTC), Huobi Global will liquidate and close all open cross and isolated ETH positions.
4. Airdrop crediting of forked tokens
Huobi Global will airdrop the forked tokens to users' accounts based on the post-closing ETH snapshot balances in your margin accounts.
5. Reopening of margin loan services
When the Ethereum Merge and the potential forking are completed, Huobi Global will reopen the ETH margin loan services in due time. The specific time will be announced later.
6. Risk reminder
Please manage your positions accordingly and follow the market conditions closely during the potential forking, which may result in violent price fluctuations and cause liquidation events.
Thank you for your support.
Sep 9, 2022
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Huobi Global 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. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets involves risk. Please read our Risk Reminder text here.