{"id":65486,"date":"2022-08-08T15:59:07","date_gmt":"2022-08-08T12:59:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65486"},"modified":"2025-09-06T20:15:08","modified_gmt":"2025-09-06T17:15:08","slug":"bitmex-to-launch-derivatives-tied-to-a-possible-ethereum-pow-fork","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitmex-to-launch-derivatives-tied-to-a-possible-ethereum-pow-fork\/","title":{"rendered":"BitMEX to launch derivatives tied to a possible Ethereum PoW fork"},"content":{"rendered":"<p>The BitMEX cryptocurrency derivatives exchange will offer a futures product based on ETHPoW tokens tied to a potential fork of the Ethereum blockchain after the mainnet&#8217;s transition to the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Stake<\/a> (PoS) consensus algorithm.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8This just in \ud83d\udea8<\/p>\n<p>A brand new ETHPOW futures contract is dropping on BitMEX tomorrow:<a href=\"https:\/\/twitter.com\/search?q=%24ETHPOW&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETHPOW<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24USDT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDT<\/a> <\/p>\n<p>Contract deets\ud83d\udc47<a href=\"https:\/\/t.co\/CuahDsXqTX\">https:\/\/t.co\/CuahDsXqTX<\/a> <a href=\"https:\/\/t.co\/d1PAdYuqyh\">pic.twitter.com\/d1PAdYuqyh<\/a><\/p>\n<p>\u2014 BitMEX (@BitMEX) <a href=\"https:\/\/twitter.com\/BitMEX\/status\/1556560828752662528?ref_src=twsrc%5Etfw\">August 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The futures contract with ticker ETHPOWZ22 is settled in Tether (USDT) and provides users with 2x leverage.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a highly speculative contract (ETHPoW does not yet exist and may never come to be),\u201d the statement said.<\/p>\n<\/blockquote>\n<p>The product is already available on the test network.<\/p>\n<p>The idea of a fork with an Ethereum branch continuing to operate on the Proof-of-Work (PoW) algorithm was floated in July by influential Chinese miner Chandler Guo. The ETHPoW asset that emerged would allow miners of the second-largest cryptocurrency by market capitalization to continue operating after the mainnet&#8217;s merge with the Beacon Chain, <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-developers-approve-pos-transition-timetable-cryptocurrency-up-12\">scheduled for September<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">ethpow will coming soon <a href=\"https:\/\/t.co\/v9eAbWO2BZ\">pic.twitter.com\/v9eAbWO2BZ<\/a><\/p>\n<p>\u2014 Chandler Guo (@ChandlerGuo) <a href=\"https:\/\/twitter.com\/ChandlerGuo\/status\/1552382597086470146?ref_src=twsrc%5Etfw\">July 27, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Poloniex exchange also <a href=\"https:\/\/u1f987.com\/en\/news\/poloniex-to-back-potential-ethereum-forks-on-the-pow-algorithm\">announced support<\/a> for the proposed Ethereum PoW fork, and on August 8 listed ETHPoS (ETHS) and ETHPoW (ETHW). MEXC Global followed suit.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">MEXC will support the <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> upgrade and its potential hard fork. <\/p>\n<p>All MEXC <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> holders will receive the forked assets at a 1:1 ratio when the upgrade is completed.<\/p>\n<p>Details: <a href=\"https:\/\/t.co\/nY06CPNB2O\">https:\/\/t.co\/nY06CPNB2O<\/a> <a href=\"https:\/\/t.co\/HeFyIPuO3v\">pic.twitter.com\/HeFyIPuO3v<\/a><\/p>\n<p>\u2014 MEXC Global (@MEXC_Global) <a href=\"https:\/\/twitter.com\/MEXC_Global\/status\/1555543141788200960?ref_src=twsrc%5Etfw\">August 5, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Both assets exist in the form of <span data-descr=\"I owe you\" class=\"old_tooltip\">IOU<\/span>, issued 1:1 against the underlying cryptocurrency ETH. According to CoinMarketCap, at the time of writing <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum-pos\/\">ETHPoS<\/a> trades around $1648 when Ethereum price is near $1783. Quotes <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum-pow\/\">ETHPoW<\/a> are around $135.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/0Qbj2IihHMxa4OahaSopdXTCr3IJzU4OhNPrPT6Vtz8RHhiRKNqyTlgpUJjqDpEcdwXpwZxQMbVSC9G8KXfKuFHvRY2S_8oejB4Cr1PBMyYiLKSNvBg13-EqrpNQtZvcf7v3t927YQCh6sEo_kIm2Qk\" alt=\"BitMEX \u0437\u0430\u043f\u0443\u0441\u0442\u0438\u0442 \u0434\u0435\u0440\u0438\u0432\u0430\u0442\u0438\u0432\u044b \u043d\u0430 \u0431\u0430\u0437\u0435 \u0432\u043e\u0437\u043c\u043e\u0436\u043d\u043e\u0433\u043e PoW-\u0444\u043e\u0440\u043a\u0430 Ethereum\"\/><figcaption>Data: CoinMarketCap.<\/figcaption><\/figure>\n<p>Huobi said it would take steps to support the potential fork after \u201cgathering a general picture of users\u2019 opinions\u201d and if the assets meet listing rules.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd25<a href=\"https:\/\/twitter.com\/hashtag\/Huobi?src=hash&#038;ref_src=twsrc%5Etfw\">#Huobi<\/a> has seen recent discussions on the potential <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> hard forks.<\/p>\n<p>We hold an objective &#038; neutral attitude towards the principle of ensuring security of your assets, and will take a first move to support the hard fork after we get an overall picture of users\u2019 opinions. <a href=\"https:\/\/t.co\/yirsYxMASE\">pic.twitter.com\/yirsYxMASE<\/a><\/p>\n<p>\u2014 Huobi (@HuobiGlobal) <a href=\"https:\/\/twitter.com\/HuobiGlobal\/status\/1555595288680603648?ref_src=twsrc%5Etfw\">August 5, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>DigiFinex and OKX exchanges have also begun assessing the implications of a possible Ethereum fork.<\/p>\n<p>Gate.io on August 9 will begin trading ETHS and ETHW.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/t.co\/8kWqgEeplL\">https:\/\/t.co\/8kWqgEeplL<\/a> Will Support <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&#038;ref_src=twsrc%5Etfw\">#ETH<\/a> Potential Hard Fork and List <a href=\"https:\/\/twitter.com\/hashtag\/ETHS?src=hash&#038;ref_src=twsrc%5Etfw\">#ETHS<\/a> and \u00abCandy\u00bb Token <a href=\"https:\/\/twitter.com\/hashtag\/ETHW?src=hash&#038;ref_src=twsrc%5Etfw\">#ETHW<\/a> <\/p>\n<p>\u25b6\ufe0fTrading Starts: 12:00 AM, Aug 9th, 2022 (UTC+8)<br \/>\u25b6\ufe0fTrading Pairs: <br \/>ETHS\/USDT, ETHS\/ETH<br \/>ETHW\/USDT, ETHW\/ETH <\/p>\n<p>More details: <a href=\"https:\/\/t.co\/EL1LIdzkeo\">https:\/\/t.co\/EL1LIdzkeo<\/a> <a href=\"https:\/\/t.co\/RkGHpXaxMT\">pic.twitter.com\/RkGHpXaxMT<\/a><\/p>\n<p>\u2014 Gate.io (@gate_io) <a href=\"https:\/\/twitter.com\/gate_io\/status\/1556125698607259648?ref_src=twsrc%5Etfw\">August 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Chainlink developers said the protocol <a href=\"https:\/\/docs.chain.link\/docs\/ethereum-proof-of-stake-merge\/\">will not support<\/a> the Ethereum PoW fork.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BitMEX cryptocurrency derivatives exchange will offer a futures product based on ETHPoW tokens tied to a potential fork of the Ethereum blockchain after the mainnet&#8217;s transition to the Proof-of-Stake (PoS) consensus algorithm.<\/p>\n","protected":false},"author":1,"featured_media":65487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[788,46],"class_list":["post-65486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitmex","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=65486"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65486\/revisions"}],"predecessor-version":[{"id":65488,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65486\/revisions\/65488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/65487"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=65486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=65486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=65486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}