Huobi Global Will Support The Upcoming Bitcoin Cash (BCH) HardFork

Dear Users,

Bitcoin Cash is expected to perform a hard fork protocol upgrade at 20:00 on November 15, 2020 (UTC+8). As BCHN has an absolute advantage in computing power, Huobi Global will make the following arrangements according to the feedback from the community and users:

1、BCHN node will inherit the original name of BCH and the k-line and trading pairs. This may cause a large fluctuation due to the influence of market sentiment when the hard fork occurs. Please make corresponding precautions for risk control in advance.

2、After the hard fork is completed, Huobi Global will take BCH snapshots of the user's accounts and airdrop the new token to users. Huobi Global will also assess to open corresponding trading pairs in line with the opinions of the community.

3、See details for Spot, Margin and Futures below:

Time (UTC+8)Related ServicePlan
16:00, 13th NovemberFuturesHuobi Futures will deliver the BCH/USD futures (weekly, bi-weekly, quarterly, bi-quarterly) in advance will be completed earlier and impose trading halts.
17:00, 13th NovemberMargin TradingTrigger forced closing will happen on BCH isolated margin and cross margin.
11:00, 15th NovemberFuturesBCH/USD-futures contract will be completed earlier and impose trading halts.
18:00, 15th NovemberDepositsSuspending the withdrawals and deposits of BCH and HBCH. Please deposit BCH to Huobi Global in advance, we will handle any technical problems in hard fork for you.
20:00, 15th NovemberAssets SnapshotSnapshots of the BCH assets (spot trading, futures, fiat, margin, and mining) of the Huobi account will be taken. If new tokens are generated, they will be airdropped into the user account at a ratio of 1:1.

The system will automatically execute position closing operations at the specified time. Please take necessary precautionary risk control measures by canceling orders in advance or repaying loans. 

After the fork is completed and the main network is stable, Huobi Global will resume related deposits, withdrawals and other trading services. Please stay tuned to the subsequent announcement.

 

About Isolated- Magin:

Borrowed assets shall not be kept in individual's isolated-margin account.

If you have loan on the isolated-margin for BCH/USDT、BCH/BTC (including users who has going long and selling short), please conduct your repayment before 17:00 on 13th November, 2020 (UTC+8). If it is not processed at that time, the system will be triggered to repay loans.

 

About Cross- Margin:

Borrowed BCH or BCH positions will not be kept in individual's cross- margin account.

If you are holding BCH positions, and/or you have BCH loan in your cross- margin account, please make transactions to close positions, and/ or conduct your repayment before 17:00 on 13th November, 2020 (UTC+8). If it is not processed at that time, the system will be triggered to repay loans, and/ or close positions.

Transferring BCH from the exchange account to cross-margin account will be suspended starts from 20:30 11th November.

Trading pairs BCH/USDT、BCH/BTC will not be available after the system is triggered to close positions.

 

About Futures: Please refer to "Announcement on the Supplementary Plan of BCH Hard Fork and the Suspension of BCH/USDT Swaps"

 

Reminder on potential non-fork: Since there are uncertainties in the current fork, one of the two parties may decide to waive the fork. In that case, Huobi Global will respect the opinions of the community and whichever chain wins will inherit BCH.The specific solution will be notified after.

 

Note:

1. If there should occur any violent fluctuations before the suspension, please take precautions on risk control in advance.

2. The above is Huobi Global's plan based on the latest market information, community and user opinions and consensus to ensure the smooth operation of the market. The time involved will be notified through other announcements. Huobi Global reserves the right to make reasonable adjustments to this plan.

Huobi Global
November 11, 2020