According to the Ethereum Foundation, Ethereum will undergo two upgrades soon. The first one is "Bellatrix" on the Ethereum consensus layer. It is expected to take place at 11:30 AM on September 6th, 2022 UTC. The second upgrade is "Paris" on the execution layer. "Paris" is estimated to take place at the ETH mainnet block height of 15,540,293, on September 15th, 2022 at 00:30 AM UTC. ETH will transition from PoW (proof-of-work) to PoS (proof-of-stake). The Ethereum PoW chain will reach a total terminal difficulty (TTD) of 58,750,000,000,000,000,000,000.

Since the fork may generate new tokens, in order to control risks during the upgrades, Gate.io will suspend the deposit and withdrawal services of ETH and ERC. All services will be restored as soon as the upgrade is completed.

Spot, margin, and futures trading will not be affected, but investors must be aware of the potential risks involved.

Schedule:
For Bellatrix, deposit and withdrawal services will be suspended at 11:00 AM on September 6th, 2022 UTC.
For Paris, deposit and withdrawal services will be suspended at 00:00 AM on September 15th, 2022 UTC.

"Candy" tokens may be generated during the hard fork. If you wish to get "Candy" tokens on Gate.io, please deposit ETH into your Gate.io account before the deposit and withdrawal suspension.

Gate.io will snapshot users' ETH balance in spot account, financial account, and margin account. Outstanding ETH borrowing will be deducted from the total snapshotted ETH balance. (Snapshots are expected to be taken at around 00:30 AM on September 15th, 2022 UTC. However, the actual time of the snapshot is dependent on when exactly the fork will happen.)

If you have any outstanding ETH borrowings at the time of the snapshot, you will have to give the "Candy" tokens generated from borrowed ETH back to the lender. If you don't want to go through this procedure, please repay your ETH loans in advance.

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Gate.io Team
September 05