With The Merge Upcoming, Here’s How Binance Will Support an ETH Fork

Binance Users to Receive Airdropped ETH PoW Tokens

In an announcement made on Sept. 9, leading cryptocurrency exchange Binance confirmed that it would support any potential fork of the Ethereum mainnet network after the upcoming Merge.

The last leg of the transition of the Ethereum network into a Proof of Stake (PoS) consensus mechanism is scheduled to occur between Sept. 13 and 15. Referred to as the Paris Upgrade, it will be triggered by the Terminal Total Difficulty (TTD) of 58750000000000000000000.

With a potential fork of the Ethereum network underway, exchanges have been divided on whether or not to support the forked network, ETH Proof of Work (PoW), and its forked ETHW tokens.

Binance intends to allow users with a balance of 0.1 ETH or larger who are deemed eligible for the ETH PoW airdrop to receive the same without the need to bridge their ETH tokens back to the Ethereum mainnet.

According to the announcement, “All wallet addresses on BNB Chain that have a balance of 0.1 ETH or larger will be eligible for the airdrop of the forked ETH PoW token at a ratio of 1:1.”

In case you were wondering how other centralized exchanges intend to handle the forked network, leading Singapore-based investment firm AlphaLab Capital published a chart detailing that information.