The upcoming Ethereum Shanghai Upgrade is expected to take place on April 12, 2023. Listed below are key details on the upgrade and what support to expect from VALR:
What is the Shanghai Upgrade?
The Ethereum Shanghai Upgrade is a planned hard fork to upgrade the Ethereum network. This upgrade does a number of things, but most notably allows for the withdrawal of staked Ether. It is a community supported, non-contentious planned upgrade that has been successfully tested on multiple test networks.
When will the upgrade occur?
The upgrade is set to happen automatically on slot 6209536 which is currently expected to occur on April 12, 2023.
How long is the upgrade?
The Shanghai upgrade itself will occur over a single block (~12 seconds).
How will this impact you?
Please note that no action is required on your part for this upgrade. Your balances will not be impacted and all assets are safe with VALR.
Should I expect interruptions?
We expect there to be a slight delay on withdrawal and deposits over the time of the upgrade. This will be a temporary delay which may be reflected in a greater number of required confirmations for deposits to VALR.
We do not expect any interruption to trading during this period. You will continue to be able to trade all supported crypto assets on the VALR platform.
Will VALR have a maintenance window during this time?
VALR will pause on-chain Ethereum network transfers approximately 1 hour prior to the anticipated time of the Shanghai upgrade and will resume transfer activity once we’ve determined that the new network is stable. Ensuring network stability may require a longer maintenance window due to external issues related to the upgrade. On-chain transfers for non-ERC20 assets such as Bitcoin will not experience interruptions.
If you have any additional questions, please submit a support ticket using the link to our help center