OKC Supports Ethereum Merge with ETHW Airdrop for ETHK Holders
The Ethereum Merge is expected to take place between 13th to 15th September 2022. During the merge, there might be a fork that could result in both Proof-of-Stake (PoS) and Proof-of-Work (PoW) running. ETH holders will also be airdropped ETHW, the ETH running on its PoW chain.
OKC (OKX Chain) will support the Ethereum Merge with its consequential assets as a public chain supporting a multi-chain ecosystem. Users who already hold ETHK, the wrapped version of ETH on OKC, will receive an equivalent amount of ETHW automatically via airdrop.
How the ETHK > ETHW airdrop will be done:
Before the merge, OKC will take a snapshot of the specific block to capture data on all ETHK holders. After completion of the Ethereum merge, OKC will proceed with the airdrop of ETHW to KIP20 wallet addresses of ETHK holders based on the snapshot. Users do not have to perform any actions.
Switching to ETHW on Ethereum’s PoW chain:
After the airdrop, users who would still like to receive the native ETHW assets on Ethereum’s PoW chain can proceed to do so via two methods:
- Use the OKC Bridge by swapping the received ETHW on OKC to ETHW on Ethereum.
- Access the OKX Exchange’s deposit and withdrawal function to withdraw in ETHW on Ethereum.
(Promo) Gas Incentives:
Users who import assets into the Web3 wallet before the Ethereum merge also receive additional OKT, allowing 10,000 transactions on OKC.
Since the launch of OKC, the team has focused on true interoperability across chains by enabling and facilitating a smooth and seamless user experience, especially for the upcoming merge.
- This airdrop will only take snapshots of wallet addresses holding KIP20 ETHK tokens and will not include locked contract addresses.
- If the Ethereum PoW fork fails, the airdrop plan will be canceled automatically.
OKC is a secure & programmable smart contracts platform for next-generation decentralized applications, backed by OKX, one of the largest crypto exchanges. The technology built into the chain was designed for high-performance Dapps with lower cost, making it an excellent match for many DeFi protocols, NFTs, and other Metaverse applications.
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