Bitfinex lists Chain Split tokens on upcoming hardfork

Posted 13 November, 2018

Hong Kong-based Bitfinex exchange is going to launch trading of the tokens resulting from the upcoming Bitcoin Cash hardfork.

The company stated in the notice on its website that it has listed Chain Split token for the hardfork implementations – ABC and SV, that may appear on November 15.

The exchange notice reads:

"In the last days, it has been more evident that the fork will likely result in two different chains, Bitcoin Cash ABC and Bitcoin Cash SV...To prevent any risk of manipulation and hence to maintain a healthy market we have decided to use the Chain Split Tokens (CST) approach to govern this particular event."

According to the released information, the exchange will offer trading BAB (ABC implementation) and BSV (SV implementation) vs USD and BTC. Users can convert their BCH into these tokens via Token Manager. Notably, the marginal trading will be unavailable. 

Birfinex will make BCH snapshop after the hardfork and all related coins may be converted into BAB and BSV. 

"BCH balances will be credited both BAB and BSV. Anyone who is short BCH during the Snapshot Event will have their accounts debited BAB and BSV. If there is not enough BAB and BSV in the account, these users will have a negative balance of BAB and BSV. Anyone who is long BCH during the Snapshot Event will then have BAB and BSV credited to their account," noted Bitfienx.

The company also pointed out that this will be short-lived support of new tokens, and maybe ceased just after covering all negative balances. After that, BAB and BSV will be delisted.

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14 November, 2018 11:46

← GoverMedia Plus Canada Corp expresses intent to acquire EXMO exchange

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GoverMedia Plus Canada Corp expresses intent to acquire EXMO exchange

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13 November, 2018 13:27

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