Dear OKEx Users,
The Bitcoin Cash (BCH) network is expected to undergo a hard fork on November 15, 2020 (HKT), with two competing node implementations: Bitcoin Cash ABC and Bitcoin Cash Node. As a result, users holding BCH before the fork may receive two new assets. OKEx outlines the following measures for its platform services and the handling of forked assets:
1. Spot and Margin Trading
- November 8, 2020, 11:00 (HKT): BCH margin borrowing will be disabled.
- November 14, 2020, 11:00 (HKT): System-enforced loan repayment will be triggered. Users with open BCH/USDT or BCH/BTC margin positions must repay loans before this time.
- November 14, 17:00 (HKT): Spot and margin trading for BCH will be paused, and all open orders will be canceled.
- November 14, 18:00 (HKT): BCH deposits will be suspended. Users are advised to deposit BCH beforehand; OKEx will handle technical issues during the fork.
👉 Secure your BCH holdings before the fork
2. Futures and Perpetual Swaps
Contract Specifications
- BCHUSD and BCHUSDT futures (delivery and perpetual) will track the original Bitcoin Cash chain pre-fork.
- Post-fork, the contracts will follow the chain with higher pricing on major exchanges.
Index Adjustments & Risk Control
If exchanges delist BCH pairs pre-fork, OKEx will temporarily adjust:
- Price limits (±5% of the 1-minute MA).
- Liquidation logic (based on mid-market price).
- Funding rate cap (set to 0).
Leverage and Maintenance Margin
- Leverage tiers will be adjusted to reduce risk (lower max leverage, higher maintenance margins).
New Contract Listings
- No new weekly/quarterly BCH contracts will be launched until after November 15, 2020.
3. Fiat (C2C) Trading
- BCH C2C trading will pause on November 8, 11:00 (HKT).
4. Financial Services
- Savings: Users can continue earning interest on BCH holdings; no action required.
- C2C Lending: BCH collateral loans will pause on November 8, with forced repayment on November 14.
5. Forked Asset Distribution
- Snapshot: On November 15, 21:00–21:05 (HKT), OKEx will record users’ BCH balances.
- Naming: The higher-valued chain will retain the "BCH" ticker; the other will be airdropped 1:1.
- Trading: New BCH and forked token deposits/trading will be announced post-fork.
FAQ
Q: Will my BCH be safe during the fork?
A: Yes, OKEx will manage all technical aspects. Ensure deposits are completed before November 14.
Q: How are the new tokens distributed?
A: Based on the November 15 snapshot. The secondary token will appear in your "Funds Account."
Q: Can I trade BCH futures during the fork?
A: Yes, but with adjusted risk controls. Monitor announcements for updates.
👉 Learn more about BCH fork strategies
Disclaimer:
OKEx reserves the right to adjust rules under extreme market conditions. Cryptocurrencies are volatile; assess risks before investing.
OKEx Team
October 28, 2020
### **Keywords:**
BCH fork, OKEx, Bitcoin Cash, futures trading, margin trading, airdrop, cryptocurrency, hard fork
---