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Impact of Bitcoin Cash Hard Fork (15-Nov-2020) on BCH Perpetual & Index

The Bitcoin Cash (BCH) blockchain is expected to undergo a hard fork at around 12pm UTC on 15th November. There are two competing hard proposals by the two main BCH clients namely, Bitcoin Cash ABC and Bitcoin Cash Node (BCHN). This is a contentious fork and the ensuing chain-split may result in an additional token.

Product affected

BCHUSDT Perpetual Contract

Index affected

.DEBCHUSDT .DEBCHUSDT is currently comprised of equal weighted average of BCH-USDT spot prices from Binance and Huobi.

Impact of the hard fork

The above-mentioned product and index will follow the side of the fork which has majority hash power. As things stand today, a significant majority of BCH miners have signalled support for BCHN. If this support persists through the hard for, the BCH spot index and BCH perpetual will follow the BCHN chain. The names of the index and product will remain unchanged. The situation however remains dynamic. We are closely following the developments relating to the chain-split and will announce which fork the affected index and product will follow as soon as reasonably possible. As of now, we intend to keep trading in the BCHUSDT perpetual contract open through the hard fork. However, in case the uncertainties around the hard fork increase, we may suspend trading until clarity emerges and price discovery in spot markets happen. Please monitor our Telegram announcements and Twitter for the most up to date information.
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