Dear Huobi Users,
To embrace the great event of ETH Shanghai Upgrade, Huobi will launch Zero Trading Fees Event for BETH-related spot trades. We sincerely invite your participation!
Event Period:
12:00 (UTC) on Apr 10, 2023 - 12:00 (UTC) on May 10, 2023
Preferential Trading Pairs:
BETH/ETH and BETH/USDT
Details are as follows:
During the event, users can enjoy zero trading fees for BETH/ETH and BETH/USDT spot trades. After the event ends, the fee rates will return to normal.
Notes:
- During the event, trading volumes of BETH/ETH and BETH/USDT will be excluded from the volume calculation for determining users' Prime levels. Such trading volumes will be counted in after the event ends.
- Huobi reserves the right of final interpretation of this event.
About ETH Shanghai Upgrade
For Ethereum stakers, the Shanghai update is a well-awaited change to Ethereum's Proof of Stake consensus mechanism. Aside from its effects on staking, it's also likely to have some ramifications on market demand for ETH. So, no matter if you're already staking ETH, considering it, or simply holding ETH, it's worth understanding exactly what Shanghai will do and how it may affect your portfolio.
In September 2022, Ethereum completed its switch to a Proof of Stake (PoS) consensus mechanism. Before this, Ethereum used Proof of Work (PoW) and a mining mechanism to process and validate transactions. Users who want to take part in validating on the network can now stake 32 ether (ETH) rather than solve computational puzzles using specialized mining equipment.
Since the Merge, which saw the Ethereum mainnet combine with the PoS Beacon Chain, users haven't been able to remove their staked funds. The Shanghai update (EIP-4895) resolves this issue and adds withdrawal functionality. On January 5, 2023, Ethereum developers agreed to a March 2023 launch date for implementing the upgrade as a network hard fork. Users will be able to test the update with a Shanghai-implemented public test network towards the end of February 2023.
Huobi
April 10, 2023
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Huobi reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on Huobi. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.