VALR has distributed Ethererum Proof-of-Work (ETHW) tokens to VALR customers who held at least 0.01 Ethereum (ETH) on VALR at the time of the Merge.
What is ETHW?
Following the Merge where ETH moves away from a Proof of Work mechanism and moves on to Proof of Stake, a community of miners moved to hard fork the Ethereum network, giving rise to Ethereum Proof of Work. The hard fork resulted in an “airdrop” where balances on the Ethereum network were duplicated.
Ethereum (ETH) continues to be the main Ethereum token that has upgraded to Proof-of-Stake.
ETHW distribution to qualifying customers
ETH held in VALR wallets at the time of the merge is secured by VALRs own custody technology. This allows VALR to securely retrieve ETHW balances that belong to our customers and distribute these to customers 1:1 against ETH balances held at the time of the merge.
Customers who held at least 0.01 ETH on VALR at the time of the merge have been distributed ETHW in equal quantity to their ETH holdings.
Trading of all ETH pairs including ETHZAR, ETHUSDC and others, is fully functional for all order types and points to the upgraded ETH Proof of Stake network.
The ETHW/ZAR trading pair has been enabled and is fully functional for all order types excluding stop limit orders.
Please ensure you do your own research before trading. ETHW's value could tend to zero in which case VALR may delist ETHW. The market, not VALR, decides the value of all tokens listed.
ETHW Deposits & withdrawals are now enabled. Start depositing here: https://www.valr.com/deposit/ETHW
Only deposit or withdraw ETHW to an ETHW address. Depositing or withdrawing ETHW to any other token address (including ETH) will result in the total loss of your funds.
Enabling ETHW deposits and withdrawals may result in significant volatility for ETHW as prices on VALR and other ETHW markets may converge.
As always, please trade with caution.