UPUPEX Will Support The Upcoming Bitcoin Cash (BCH) HardFork

Dear users,

Bitcoin Cash is expected to undergo an upgrade of its hardfork protocol at 20:00, 15 November 2020 (UTC+8). UPUPEX will support the upcoming BCH hardfork should the chain split. To reduce potential trading risk in market volatility during the hardfork and to provide security to protect our users’ assets, UPUPEX will roll out the following plans (the exact time/schedule will be advised in our next announcement. Please stay tuned):

I. BCH Spot Trading
This upgrade is expected to fork Bitcoin Cash into two chains, BCHA (Bitcoin Cash ABC) and BCHN (Bitcoin Cash Node). The BCH community hasn’t decided on the naming of the upcoming split chain, UPUPEX respects the opinion and consensus of the community and will set a transition period for the fork chain. Once the BCH community has reached a consensus on the naming of BCH fork chain, UPUPEX will update the system accordingly.

1. Suspension of Spot trading pairs; BCH/USDT & BCH/BTC.
2. Suspension of deposits and withdrawals for BCH.
3. A snapshot of user’s account for BCH holdings will be taken for the distribution of BCHN.

Please note that all open positions will be closed at market price and submitted for settlement at the given timeframe. We appreciate your kind understanding of the arrangement and your continuous support.

II. BCH Contracts
1. UPUPEX will deliver and suspend BCHUSDT and BCH-Settled perpetual contracts in advance at 11:00, 15 November 2020 (UTC+8). Should there be any trading suspension ahead of schedule, UPUPEX will notify its community through an announcement.

NOTE
1. The market price of BCH may fluctuate, please take precautions in advance.
2. UPUPEX will re-open the trading of BCHA and BCHN after the distribution of BCHN is complete and update its community through an announcement.
3. The above plan is based on the latest public information. UPUPEX will gather opinions and consensus from its community and users to ensure a smooth transition of the BCH hardfork. The time involved will be notified through other announcements. UPUPEX reserves the right to make reasonable adjustments to the plan.
4. Since there are still many uncertainties ahead, should one of the two parties decides to abandon the fork, UPUPEX will respect the opinions of the community and keep BCH as the official and only token for Bitcoin Cash.

Risk Disclaimer
Digital Asset Trading can be a challenging and potentially profitable opportunity for investors. Users are strongly encouraged to carefully consider their investment objectives, level of experience, and risk appetite.

UPUPEX

2020.11.3