As you are aware, Ethereum’s Merge, touted as the biggest event in the crypto space this year, is expected to take place tomorrow (September 15). There is a lot of anticipation and well-founded apprehension as there is a lot at stake for investors, traders, and technologists.

Giottus, as a top-rated Indian crypto platform, has geared up to support its customers as the Merge takes place. All ETH and ERC-20 tokens will be automatically migrated to the new Proof-of-Stake (PoS) chain for all customers. In anticipation of the event, we will be suspending all ETH and ERC-20 withdrawals and deposits by 7 am (IST) on September 15. Customers will be notified as soon as the Merge is successful and deposits and withdrawals are reinstated.

Trading of ETH and ERC-20 tokens will continue to be available on the platform throughout the event. To aid customers to navigate the expected market volatility and in celebration of a successful Merge, Giottus will waive off all fees on ETH/INR pair for 7 days starting 12 midnight (IST) of September 15.

Scenarios and support for new fork

If the Merge goes as per plan, Ethereum will move away from the Proof-of-Work (PoW) consensus mechanism, thereby making it more ‘scalable, secure and eco-friendly.’ An unanticipated software issue that postpones the Merge may cause some volatility in the market — this is highly unlikely given the rigorous planning and testing that has happened over the last few months.

In case of a fork, Giottus will support the Ethereum Proof-of-Work (PoW) token if it is stable and meets our listing criteria. Giottus will credit the forked token to eligible user accounts at an airdrop ratio of 1:1 in subsequent days in such an eventuality.

If you have further questions, kindly contact our customer team at [email protected] or call us at +91 78248 78248.