ETH: Don't argue about who is serious if you are younger brothers

Author: 0xivecott

$ETHW is supported by most ore pools, which seems to be a "real fork". The $ETF has 13 million dollars of ETF pre excavation, and most of them are controlled by the team that initiated the bifurcation.

catalogue

  1. Ethereum PoW

  2. Ethereum Fair (ETF as token abbreviation)

  3. ETHW IOU products added to the centralized exchange

  4. Quick End

  • During the period of Ethereum merger, many centralized exchanges have launched many Ethereum PoW Fork IOU trading products (forked coins, no cash, one IOU)

  • But none of us clearly knows which $ETHW fork we are buying or holding.

  • This article will help you understand how many ETH PoW forks are ready to start, and the rules for different crypto exchanges to list these ambiguous ETHW IOU assets.

  • $ETF  The fork currency is extremely risky for ordinary users, and the fork team holds more than 8 million$ ETF is obviously a currency supported by the Chinese exchange

Ethereum PoW

Link: https://linktr.ee/ethw

From July 2022 (at least in July they created their Twitter account and Discord channel), their official website link is; https://EthereumPoW.org/ 。 Ethereum PoW is the PoW consensus branch of Ethereum Network initiated by a group of mining communities. Perhaps Chinese is the majority, because they use Mandarin as their first declaration language.

This is a fairly complete information (41k Twitter followers+1k online discord members). Now the main network has been started.

The cex or protocol ETHW supported tweets forwarded by Ethereum PoW official tweets include:

  • MathWallet, with the logo of Ethereum PoW (September 16)

  • CyberNetwork, with the logo of Ethereum PoW (September 16)

  • Bitrue, marked with Ethereum PoW (September 16)

  • Dexscreener has no sign, but the @, Dexscreener page specifically indicates that the price comes from the ETHW of FTX. (September 16)

  • Kraken, marked with Ethereum PoW (September 16)

  • Bybit, with Ethereum PoW logo (September 16)

  • OKX, with the logo of Ethereum PoW (September 16)

  • MEXC, tweet support (September 16)

According to the declaration, the Ethereum PoW is actually anti Ethereum Foundation, accusing it of being too centralized.

They committed to the following five principles:

  1. There is no advance mining, and it is completely fair to release.

  2. PoW is a long-term basic consensus.

  3. Discard EIP 1559 and restore all original rewards for the miner.

  4. Decentralized governance.

  5. Abandon the governance team in the next three years.

Original declaration from Ethereum PoW

What have they done now?

On August 17, they decided to freeze the ETHW liquidity of the main LP pool in the main agreement to protect the assets from being exchanged by hackers with very cheap stable currencies after the bifurcation.

On August 26, the first test network iceberg was released, including code, RPC information and statement of faucet (free test coins).

On September 14, they released 23 mine pool websites.

It is worth noting that the ore pool:

F2Pool, Polin, BTC.com, Estwmin (cooperate with the community to provide long-term services)

... after merging

On September 16, the ETHW main network was started.

Ethereum PoW main network RPC information

  • Network name: ETHW main net

  • New RPC URL: https://mainnet.ethereumpow.org

  • Chain ID: 10001

  • Currency symbol: ETHW

  • Block Browser URL (optional): https://mainnet.ethwscan.com

  • Block Browser URL (optional): https://www.oklink.com/en/ethw

Ethereum Fair (ETF as token abbreviation)

Ethereum Fair (ETF) is another bifurcation after merging. Ethereum Fair's official website released a bifurcation announcement today, and announced many "strategies".

The ETF project will redistribute more than 13 million ETH transferred to the PoS beacon chain to the entire community and ecosystem (in other words, the ETH team confiscated and controlled more than 13 million ETFs in advance).

  • The $4 million ETF will be distributed to the top 10 ore pools within 50 weeks

  • 2 million ETF will be given to the exchange (for listing $ETF tokens)

  • 5 million ETF will be saved in the DAO

  • One million dollars ETF will be airdropped to ClassZZ community

  • 1 million ETF will be used for operation and community expenditure

At the time of writing this article, Huo Coin, Poloniex, Gate  And  BitCoke  $ETF has been listed. Not surprisingly, these are all based on Chinese exchanges. Since Poloniex is the first exchange that claims to support ETF, Sun Yuchen is undoubtedly the driving force behind it.

If we do not calculate the ETF coins that will be airdropped to miners and ClassZZ communities, the team behind this bifurcation still controls the ETF of 8 million dollars.

For more information, please see  https://tokeninsight.com/en/coins/ethereumfair/overview

ETHW IOU products added to the centralized exchange

Many centralized exchanges have listed ETHW Token (ETHW Fork IOU, in our terminology) for users to obtain the air drop of ETH, and they can also deposit ETH into the account of CEX.

In the traditional financial market, IOU stands for "I owe you", which refers to an informal document acknowledging that one party owes the other party a debt.

IOU here only means that the exchange has its own rules behind its own listed trading products. So please remember to read these rules. Different platforms may be very different.

FTX, the most complete consolidation service

Before the merger, FTX officially announced the detailed service rules for ETH merger. Long, but we have summarized the following key messages:

  • Air drop snapshot (6:15am UTC on September 15)

  • FTX's definition of their ETHW IOU: ETHW is a token representing the potential PoW ETH bifurcation of the specification.

  • The borrower will be charged (negative air drop)

  • FTX reserves the right to update the treatment of any forked PoW ETH at any time.

  • FTX will evaluate the listing of the forked PoW ETH in the future.

Gate first renamed ETH as ETHS and ETHW, and then delisted ETHS

The Gate directly renames the current primary ETH to ETHS (Ethereum PoS), and the IOUs of other ETH branches to ETHW. The following is the official announcement of these assets.

Gate. Io fully supports Ethereum merging and potential hard branching. It has enabled users to exchange ETH to two potential forked tokens, ETHS and ETHW, in a 1:1 ratio. At the same time, users can also exchange ETHSÐW back to ETH at any time before the merger of ETH 2.0.

After merging, Gate  The official definition of IOU ETHW currency was given, and ETHS was delisted.

On September 15. Gate. The users of io have now entered the PoW chain split token ETHW (not the specific token, but the symbol representing the winning Ethereum PoW chain split token) at a ratio of 1:1 according to their eligible ETH balance at 06:30 on September 15.

At the same time, Gate is also available; EthereumFair(ETF)。

OKX supports ETHW's margin trading!

OKX is not only quick to market in ETHW, but also supports OKX wallet and OKX DEX to ETHW. However, we still do not know which ETHW fork it supports, because there is no RPC link or other information to judge its correctness.

  • OKX made an air drop to ETH holders in their OKX account on September 15.

  • On September 15, OKX Wallet announced the successful upgrade on The Successful Ethereum Merge Upgrade! (The first wallet that supports ETHW).

  • September 16, on hand; ETHW  Listing announcement..

  • At the same time, OKX also supports ETHW margin trading and saving at 7:00 UTC on September 16.

Quick End

Keep in mind that most exchanges have not actually determined which fork is leading  ETHW  of Although Ethereum PoW Org seems to be the biggest one, but it's really hard to say.

Your wallet from different exchanges  ETHW  Asset prices can vary greatly.

In essence, except for market risk, all other risks come from the centralized exchange itself. Therefore, please study carefully before deciding to take these risks.

Good luck in a bear market.