OKX has successfully distributed the EthereumPoW (ETHW) tokens to eligible ETH holders on its platform. Users who held Ethereum (ETH) during the snapshot period can now check their ETHW balances by navigating to: Assets > My Assets > Funding Account.
Please allow several hours for the tokens to appear in your account. Note that ETHW allocations for ETH held in sub-accounts will be aggregated and reflected in the main parent account.
Additionally, OKX has officially listed ETHW on its spot trading market, providing users with new opportunities to trade this forked asset.
What Is EthereumPoW (ETHW)?
EthereumPoW (ETHW) is a Layer 1 blockchain that originated from a hard fork of the Ethereum network on September 15, 2022. Unlike the main Ethereum chain, which transitioned to Proof-of-Stake (PoS), ETHW continues to operate on the original Proof-of-Work (PoW) consensus mechanism.
This means ETHW preserves the mining-based validation process, offering an alternative ecosystem for developers and users who support the PoW model.
ETHW Listing and Trading Timeline
OKX has enabled trading for ETHW according to the following schedule:
- Deposits opened: September 15, 4:00 PM UTC
- Spot trading began: September 15, 4:30 PM UTC (ETHW/USDT pair)
- Withdrawals opened: September 16, 10:00 AM UTC
This structured rollout allowed for a smooth and orderly market opening, giving users ample time to participate.
How to Claim Your ETHW Airdrop
If you held ETH on OKX during the fork snapshot, the ETHW airdrop was automatically distributed to your Funding Account. No manual claim process was required.
To locate your tokens:
- Log in to your OKX account.
- Go to the 'Assets' tab.
- Select 'My Assets' and then 'Funding Account'.
- Search for ETHW or scroll to view your balance.
Remember, tokens from sub-accounts are automatically combined into the main account for easier management. For a seamless experience in tracking and managing such assets, you can 👉 explore more asset management strategies.
Understanding the Risks of New Listings
Trading newly listed digital assets like ETHW can be highly volatile. It's crucial to understand that prices can fluctuate significantly in a short period, potentially leading to substantial gains or losses.
Always conduct thorough research (DYOR), assess your risk tolerance, and consider your investment goals before trading. New forks can be particularly speculative as their long-term viability and community support are still being established.
Frequently Asked Questions
When was the ETHW airdrop distributed on OKX?
The airdrop occurred on September 15, 2022. Eligible users who held ETH on the platform at the time of the snapshot received ETHW tokens directly into their OKX Funding Account.
Do I need to manually claim the ETHW airdrop?
No, the process was automatic. If you were eligible, the tokens were credited to your account without any action required on your part.
Why can't I see my ETHW tokens yet?
There can be a delay of several hours for the tokens to appear in all accounts due to the large scale of the distribution. Ensure you are checking your Funding Account and not your Trading Account.
What is the difference between ETH and ETHW?
ETH is the original Ethereum asset that transitioned to Proof-of-Stake. ETHW is the token of the forked chain that continues to use Proof-of-Work, effectively creating two separate blockchains and assets.
Can I trade ETHW on OKX?
Yes, OKX enabled spot trading for the ETHW/USDT trading pair starting September 15, 2022, at 4:30 PM UTC.
Is investing in ETHW risky?
Like all cryptocurrency investments, trading ETHW carries inherent risks, including high volatility and market uncertainty, especially immediately after a fork. It is essential to understand these risks fully before engaging in trading activities.