EthereumPoW (ETHW) trading starts now + token distribution

We’re happy to announce that Kraken now helps EthereumPoW (ETHW).

Funding and Buying and selling

Buying and selling is dwell and the ETHW token has been distributed to eligible shoppers. An extra announcement shall be made as soon as Funding is dwell, at which level you will have the ability to add ETHW to your Kraken account by navigating to Funding, deciding on the asset, and hitting Deposit. Keep watch over our standing web page for updates.

Please notice:

• It’s doable that the ETHW token might not emerge and that its worth may settle to zero. ETHW’s worth is extremely risky, please take the time to analysis the dangers concerned in buying and selling this token.

Right here’s what it’s worthwhile to know:

What’s EthereumPoW?

EthereumPoW is a duplicate of the Ethereum community’s proof-of-work (PoW) blockchain because it existed earlier than shifting to a proof-of-stake (PoS) consensus mechanism. EthereumPoW retains the performance of the Ethereum community earlier than its transition to PoS and is supported by mining teams who’re unable to earn rewards through Ethereum’s new protocol. ETHW is the native token of the blockchain which is used to pay for community transaction charges, earn rewards for securing the protocol through mining and buy items and providers from decentralized functions (dApps) constructed on the platform.

ETHW token distribution

Kraken shoppers shall be credited with the ETHW forked token at a 1 for 1 ratio for every ETH token held on the time of the snapshot. This credit score would solely apply to unstaked, liquid ETH and to not staked (ETH.S) tokens.

Snapshot timestamp: 

• Block Peak: 15537393
• Time: Sep-15-2022 06:42:42 AM +UTC
• Unix time: 1663224162

An extra announcement shall be made as soon as the distribution is accomplished.

Please notice: it’s doable that ETH deposits despatched nearer to The Merge occasion might not depend towards the snapshot of shoppers’ ETH balances. Solely settled account balances on the snapshot time shall be thought-about. 

Vital: Merchants holding open margin positions throughout The Merge want to pay attention to the remedy of their positions, as forked tokens can affect your account as soon as credited/debited. 

Margin positions shall be handled as if the consumer held the underlying ETH, which implies that Kraken will:

• Add the related quantity of forked ETHW tokens to the account for ETH lengthy positions.
• Deduct the related quantity of forked ETHW tokens from the account for ETH brief positions.

Try our weblog publish for additional details about the token distribution remedy for margin merchants.

Helpful hyperlinks

Will Kraken make extra property obtainable?

Sure! However our coverage is to by no means reveal any particulars till shortly earlier than launch – together with which property we’re contemplating. All of Kraken’s obtainable tokens could be discovered right here, and all future tokens shall be introduced on Kraken’s weblog and social media profiles. Our shopper engagement specialists can not reply any questions on which property we could also be making obtainable sooner or later. 

Commerce with warning

There isn’t any assure {that a} restrict order will execute. There may be additionally no assure a market order will execute at a sure worth. The supply and liquidity of the actual digital asset will affect all these orders.

These supplies are for common data functions solely and should not funding recommendation or a suggestion or solicitation to purchase, promote or maintain any digital asset or to have interaction in any particular buying and selling technique. Some crypto merchandise and markets are unregulated, and also you is probably not protected by authorities compensation and/or regulatory safety schemes. The unpredictable nature of the cryptoasset markets can result in lack of funds. Tax could also be payable on any return and/or on any improve within the worth of your cryptoassets and it is best to search unbiased recommendation in your taxation place.