The current estimated time for the Ethereum merger is 09:30 on September 15, 2022 (East 8th District Time).

The deposit and withdrawal of the Ethereum network (ERC-20) will be suspended one hour before the merger, and will start at 08:30 (East 8th District Time) on September 15, 2022.

This time is an estimate and may vary depending on when the 58750000000000000000000 total terminal difficulty value is reached.

If a hard fork occurs and a new chain is created ( case 2 ), the code for the Ethereum Proof of Work (PoW) mainnet and its forked tokens will be “ETHW”.

If the ETHW chain persists, Binance will assist all users who hold ETH and WETH in their Binance accounts with all technical requirements involved and credit the forked token (ETHW) to eligible tokens on a 1:1 basis in your Binance account.

Distribution details will be announced separately.

Binance will take the following additional steps ahead of the merger :

1. Deposit and withdrawal of WETH

From 08:00 on September 14, 2022 (East 8th District time), the deposit and withdrawal of WETH (Wrapped Ether of the ERC-20 network) will be suspended.

Any WETH deposits on the Ethereum network (ERC-20) during the suspension period will not be credited to Binance accounts.

If a hard fork occurs and a new chain is created, users will not be eligible to receive any forked tokens (case 2).

After the merger is completed and the network is stable, Binance will reopen the deposit and withdrawal business, and a separate announcement will be made.

2. Binance Flash Exchange

The conversion of WETH to ETH has been suspended until the merger is complete and the network is stable.

Binance reserves the right to update the WETH to ETH conversion suspension time without prior notice.

3. ETH leveraged trading

In the case of a hard fork and a new chain is generated ( case 2 ), users who use leverage to lend ETH need to return the forked tokens.

If the user does not return the forked tokens, a liability equal to the value of the forked tokens will be added to the cross margin account.

Please note: There may be a risk of liquidation when increasing liabilities for forked tokens as increased liabilities may reduce margin levels. Please monitor your margin levels closely. Users are advised to return the forked tokens as soon as possible to avoid losses.

4. Binance Loan

In the event of a hard fork and a new chain is created ( case 2 ), users who use the loan to lend ETH must return the forked tokens.

If the user does not return the forked token, a liability equal to the value of the forked token will be added to the ETH loan position of the borrower.

Please note: There may be a risk of liquidation when increasing the liabilities of forked tokens, as the increased liabilities may increase the collateralization ratio (LTV). Users are advised to close the ETH pledge loan order prior to the merger to avoid any potential losses.

5. Binance Staking

In the event of a hard fork and a new chain is generated ( case 2 ), users who hold BETH will not receive forked tokens.

A separate announcement will be made when funds deposited into Ethereum staking contracts can be released on the proof-of-work (PoW) chain.

Go to Binance’s Official Website