Dear OKEx Users,
The Bitcoin Cash (BCH) network is expected to undergo a hard fork on November 15, 2020 (HKT), with two competing node proposals: Bitcoin Cash ABC and Bitcoin Cash Node. As a result, users holding BCH before the fork may receive two new assets. Below is OKEx's comprehensive plan for handling platform services and fork-related assets:
1. Spot and Margin Trading
- Lending Suspension: BCH margin lending will be disabled on November 8, 2020, at 11:00 (HKT).
- Auto-Repayment Trigger: On November 14, 2020, at 11:00 (HKT), the system will force-repay borrowed BCH in the margin trading pairs BCH/USDT and BCH/BTC. Users must repay loans before this time to avoid forced liquidation.
- Trading Pause: Spot and margin trading will be suspended on November 14 at 17:00 (HKT). All pending orders will be canceled.
- Deposit Freeze: BCH deposits will be paused on November 14 at 18:00 (HKT).
👉 Learn more about BCH fork safety measures
2. Futures and Perpetual Contracts
Contract Specifications
- OKEx’s BCHUSD and BCHUSDT futures and perpetual contracts will track the original Bitcoin Cash before the fork. Post-fork, the contracts will follow the chain with higher valuation across major exchanges.
Index Adjustments & Risk Control
Pre-Fork: If exchanges delist BCH pairs, OKEx will modify risk rules:
- Limit prices will be calculated based on 1-minute moving averages.
- Liquidation triggers will shift to mid-market prices.
- Funding rates will be capped at 0%.
- Post-Fork: Once new trading pairs stabilize, the higher-valued chain will be integrated into the index.
Leverage Adjustments
- Maximum leverage for BCH contracts will be reduced to mitigate liquidation risks.
New Contracts
- No new weekly/quarterly BCH contracts will be generated before November 15, 2020.
3. C2C Fiat Trading
- BCH C2C trading will be paused on November 8, 2020, at 11:00 (HKT).
4. Financial Services
- Savings: Users can earn interest on remaining BCH deposits post-lending suspension.
- C2C Loans: BCH-collateralized loans will be disabled on November 8, 2020. Forced repayments occur on November 14 at 11:00 (HKT).
5. Forked Asset Distribution
- Snapshot: OKEx will record BCH balances from November 15, 2020, 21:00–21:05 (HKT).
- Naming & Airdrops: The higher-valued chain retains the BCH ticker. The other chain’s tokens will be airdropped 1:1 to users.
- Post-Fork: Deposits and trading for new assets will be announced separately.
FAQ Section
Q1: Will OKEx support both forked BCH chains?
A: Yes. Users receive both assets; the higher-valued chain retains the BCH name.
Q2: When will margin trading resume post-fork?
A: OKEx will announce reactivation timelines after network stabilization.
Q3: How are airdropped tokens distributed?
A: Tokens are credited to your funding account based on the snapshot.
Q4: What happens to open futures positions during the fork?
A: Contracts continue trading with adjusted risk parameters.
Q5: Can I withdraw BCH during the fork?
A: Withdrawals are paused from November 14, 18:00 (HKT).
Risk Disclosure: Cryptocurrency investments are volatile. Assess risks thoroughly before trading.
👉 Explore OKEx’s secure trading tools
OKEx Team
October 28, 2020
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