EthereumPoW (ETHW) buying and selling begins now + token distribution

We’re happy to announce that Kraken now helps EthereumPoW (ETHW).

Funding and Buying and selling

ETHW buying and selling is reside and the ETHW token has been distributed to eligible purchasers. An extra announcement will probably be made as soon as Funding is reside, at which level you will be capable of add ETHW to your Kraken account by navigating to Funding, deciding on the asset, and hitting Deposit. Regulate our status page for updates.

Right here’s what you must know:

Please Observe:

• It’s potential that the ETHW token might not emerge and that its worth might settle to zero. ETHW’s worth is extremely unstable, please take the time to analysis the dangers concerned in buying and selling this token.
• It’s possible you’ll obtain the under electronic mail as a part of the ETHW token distribution:
  

What’s EthereumPoW?

EthereumPoW is a duplicate of the Ethereum community’s proof-of-work (PoW) blockchain because it existed earlier than shifting to a proof-of-stake (PoS) consensus mechanism. EthereumPoW retains the performance of the Ethereum community earlier than its transition to PoS and is supported by mining teams who’re unable to earn rewards through Ethereum’s new protocol. ETHW is the native token of the blockchain which is used to pay for community transaction charges, earn rewards for securing the protocol through mining and buy items and companies from decentralized functions (dApps) constructed on the platform.

ETHW token distribution

Kraken purchasers will probably be credited with the ETHW forked token at a 1 for 1 ratio for every ETH token held on the time of the snapshot. This credit score would solely apply to unstaked, liquid ETH and to not staked (ETH.S) tokens.

Snapshot timestamp: 

• Block Peak: 15537393
• Time: Sep-15-2022 06:42:42 AM +UTC
• Unix time: 1663224162

An extra announcement will probably be made as soon as the distribution is accomplished.

Please notice: it’s potential that ETH deposits despatched nearer to The Merge occasion might not rely towards the snapshot of purchasers’ ETH balances. Solely settled account balances on the snapshot time will probably be thought-about. 

Essential: Merchants holding open margin positions throughout The Merge want to concentrate on the remedy of their positions, as forked tokens can influence your account as soon as credited/debited. 

Margin positions will probably be handled as if the consumer held the underlying ETH, which signifies that Kraken will:

• Add the related quantity of forked ETHW tokens to the account for ETH lengthy positions.
• Deduct the related quantity of forked ETHW tokens from the account for ETH brief positions.

Try our blog post for additional details about the token distribution remedy for margin merchants.

Helpful hyperlinks

Will Kraken make extra property obtainable?

Sure! However our coverage is to by no means reveal any particulars till shortly earlier than launch – together with which property we’re contemplating. All of Kraken’s obtainable tokens will be discovered right here, and all future tokens will probably be introduced on Kraken’s weblog and social media profiles. Our consumer engagement specialists can’t reply any questions on which property we could also be making obtainable sooner or later. 

Commerce with warning

There is no such thing as a assure {that a} restrict order will execute. There may be additionally no assure a market order will execute at a sure worth. The provision and liquidity of the actual digital asset will influence some of these orders.

These supplies are for normal info functions solely and will not be funding recommendation or a suggestion or solicitation to purchase, promote or maintain any digital asset or to have interaction in any particular buying and selling technique. Some crypto merchandise and markets are unregulated, and also you will not be protected by authorities compensation and/or regulatory safety schemes. The unpredictable nature of the cryptoasset markets can result in lack of funds. Tax could also be payable on any return and/or on any improve within the worth of your cryptoassets and it’s best to search impartial recommendation in your taxation place.