The merger of Ethereum was successfully completed at 13:46 on September 15th. This merger is also one of the most important turning points in the history of encryption, marking the transformation of Ethereum from Proof-of-Work to Proof-of-Stake ( A comprehensive transition of the Proof-of-Stake) consensus mechanism. It also means that the Ethereum network, which is already used by millions of people, will open a new chapter.
Before the merger, some institutions, project parties, and KOL predicted that the merger of Ethereum would have a series of far-reaching impacts, such as the possible rise and fall of mainstream currency prices; security risks brought about by hard forks during the merger process; energy Increased efficiency speeds up enterprise adoption and more.
secondary title
1. Key data
The final block of the Ethereum PoW era was dug out by F2Pool with a height of 15537393.
The first PoS block of the Ethereum consensus layer was born at height 15537394, and the packaged verifier of the first PoS block is: 0xeee27662c2b8eba3cd936a23f039f3189633e4c8. The block reward is as high as 45.03 ETH, which is worth over $72,000 at current prices.
A giant whale user paid 36.82 ETH (worth $60343.07) to mint the first NFT series The Transition V2 of the Ethereum PoS chain. The Transition V2 series contains a total of 100 NFTs.
After the successful merger of Ethereum, the current ETC network computing power is 92.48TH/s, which continues to hit a record high.
Update: The computing power of ETC's entire network soared to 210.07 TH/s, continuing to hit a record high. A 24-hour increase of more than 220%.
Skew data shows that after the ethereum merger, the negative basis between futures and spot prices fell from $20 to almost zero. The annualized rolling discount of the one-month Ethereum futures on Deribit narrowed to 0.3% from the previous 17.66%. Futures discounts on Kraken, OKX and CME also narrowed sharply. On major exchanges, including Binance, three-month futures prices are at par or at a slight premium to spot prices.
In the past 24 hours, 2,487 Ethereum clients were ready to merge, accounting for 89%, and 306 clients were not ready, accounting for 11%.
The latest 100-block block time chart shows that Ethereum has excellent stability after the merger, with only one missing block.
After the merger of Ethereum, more than 40% of the blocks were added by Coinbase and Lido.
According to hildobby's Dune panel statistics, there are 428,531 validators on the Ethereum beacon chain, and the pledged ETH accounts for 11.38% of the total supply, of which Lido's market share is about 30%.
An hour after the Ethereum merge, 157.78 ETH has been burned.
2. Regarding the development of Ethereum after the merger, KOLs say this
V God:The merger would reduce global electricity consumption by 0.2%.
We finally nailed it! Merge complete! This is an important moment for the Ethereum ecosystem. Everyone who helped make the merger happen should be very proud today.
An important corollary is that EIP 1559 will perform better (since there will be fewer blocks reaching the 2x limit). So far, the percentage of full blocks has dropped from about 20% to about 10%.
Founder of Real Vision:PoS will bring positive changes to Ethereum. The biggest narrative of an Ethereum merger will be yield, not supply reduction, and the benchmark yield it offers will change everything.
Founder of AAVE:Finally, I can buy a decent graphics card to play games.
ConsenSys CEO：The merger will have a huge impact, but the impact on users will be minimal as end users will not experience any disruption.
HashKey Capital：Write Memo in the first merged PoS block (block height 15537394): support next-generation blockchain innovation.
Cointelegraph：The merger is a historic event and Ethereum will become the base layer for almost everything.
ConsenSys：Thanks to all the core developers who made the Ethereum merger a success. Hello, Evolved Ethereum.
Vanity Blocks：Vanity Blocks Postscript in the final block of Ethereum PoW: As long as you have the courage to make a promise, the world will help you remove insurmountable obstacles. To complete unfinished dreams, the universe will never hold back your progress. This is where the mystery lies.
deBridge：secondary title
3. Explanations of various DeFi and CeFi companies after the merger of Ethereum
Binance:ETH and ERC-20 token deposits and withdrawals have been suspended before the merger. If a hard fork occurs after the merger, the Ethereum Proof of Work (PoW) main network and its forked tokens will adopt the "ETHW" code. If the ETHW chain continues to exist, Binance will handle all technical requirements involved for all users holding ETH and WETH in their Binance accounts, and will credit the forked token (ETHW) in a 1:1 ratio to eligible account. Withdrawals of ETHW will also be available at a later date. Further details on this allocation will be provided in a separate announcement.
Update: Binance has resumed deposit and withdrawal services for ETH mainnet tokens.
According to the snapshot time at 14:42:42 on September 15, 2022, Binance will distribute ETHW to the spot wallet at the ratio of 1 ETH = 1 ETHW according to the net balance of ETH in eligible wallets. The process usually takes about two to five days. If the distribution is completed and recharge and withdrawal are enabled. The snapshot will include the net balance of ETH in spot accounts, funding accounts, margin accounts, Binance Savings accounts, pledge accounts, and contract accounts. Undistributed ETH interest will not be included in the snapshot. ETH borrowed through margin trading or pledged borrowing, or ETH transferred from these accounts to spot accounts, will not be counted towards the distribution. However, Binance stated that supporting this distribution does not guarantee the listing of ETHW.
Coinbase：ETH and ERC-20 Token deposits and withdrawals have been suspended
BitMEX：One hour before and during the merger of Ethereum, BitMEX will suspend the withdrawal of ETH, ERC-20 assets and USDT, and the transactions of derivatives and spot exchanges will not be affected. In addition, after the merger is completed, Ethereum and ERC20 assets will be Keep its current name and ID.
FTX：The exchange's ETH trading functionality will continue during the merger. FTX keeps open ETH deposit/withdrawal service. In the event of a typical PoW ETH fork, FTX will distribute the PoW ETH of this fork and credit it to the user account. Users who borrow ETH will be charged the forked PoW ETH based on their ETH balance at the time of the fork snapshot.
* FTX will evaluate the listing of the forked PoW ETH in the future.
* After the merger, the "ETH" code will be used to use the ETH PoS chain.
Update: FTX is now listed on EthereumPoW (ETHW) spot.
OKX：It is expected that the deposit and withdrawal of ETH and other ERC-20 network tokens will be suspended at 23:00 (HKT) on September 14. If the Ethereum is forked, Ouyi will take a snapshot of the user's trading account, capital account, and ETH rights in the financial business when the Ethereum upgrade is completed, and airdrop the forked coin to the user at a ratio of 1:1. If no new tokens are generated after the merger and upgrade of Ethereum, Ouyi will open the recharge, withdrawal and cross-chain bridge related businesses of ETH and other tokens after confirming the stability of the Ethereum mainnet.
Update: The deposit and cross-chain bridge related businesses of ETH and ERC20 series currencies have been opened.
The forked chain ETHW is expected to be officially launched tonight at 21:00 (HKT), and the Ouyi Web3 wallet will complete the access to ETHW within 12 hours.
If you deposit the assets on the Ethereum chain into OKX Wallet before the fork, you can get the same amount of ETHW chain fork assets, including main network currency NFT and other protocol tokens and other assets.
Update: Ouyi has released ETHW airdrops and launched spot transactions.
OKC (OKX chain) took a snapshot of ETHK positions for all accounts at block height 13985244. If a new forked token is created during the Merge, OKC will support the distribution of the forked token. According to the snapshot, the forked token will be airdropped to the KIP20 wallet address of the ETHK holder at a ratio of 1:1. The user does not have to take any action.
Circle: In order to smoothly transition the merger period, the minting and redemption of USDC on the Ethereum chain will be suspended.
Update: Ethereum has been successfully upgraded and the platform maintenance period has ended.
zkSync：Congratulations to the Ethereum community on the successful merger. zkSync 1.0 operations have now resumed.
Crypto.com：All ETH and ERC20 token deposits and withdrawals have resumed.
Lido Finance：The PoS era of Ethereum has begun, and 3 priority fees of more than ETH have been captured by Lido pledgers.
Tokenlon：Tokenlon exchange and GTO services resumed after the merger. Tokenlon does not support any Ethereum forks.
EthereumPoW：ETHW Core information will be released in about 5 hours. 1-hour countdown timer for ETHW mainnet, final code, binaries, config files, node info, RPCs, resource managers, etc. will be released in 23 hours. The mainnet will be launched within 24 hours.
KuCoin：Open ETH and ERC20 token deposit and withdrawal services.
F2Pool：The ETHW (Ethereum PoW) mining pool has been launched, and the legacy computing power of the original ETH mining pool has been transferred to ETHW mining. ETHW uses the Ethash mining algorithm and supports GPU and EthashASIC mining machines.
4. The situation of forked coins after the merger of Ethereum
Opyn, Yearn, LooksRare, Circle, Deribit, Chainlink, Tether, etc. do not support forks and only support POS.
secondary title
5. ETH MERGE commemorative NFT collection
Claim the 4th official Merge POAP by sending 10 USDC/DAI/RAI to a stateful.eth address (Mainnet, Polygon, Arbitrum, or Optimism). Officials take about 1-2 weeks to filter Sybil attackers.
a16z Crypto Launches "Proof of Merge" Dynamic Ethereum NFT. According to the progress of the merger of Ethereum, there are three stages of change. In the first stage, before the merger, the NFT image shows two separate circles; in the second stage, early Wednesday local time, the semicircles of the two circles will merge; the third stage The first stage shows that the two circles are fully merged, indicating that the Ethereum merger is complete. The number of "proof of merger" NFT is unlimited and free, but can only be claimed before the Ethereum merger is completed. Get the tutorial reference "How to claim a16z's "Merger Proof" NFT for free》
3675 Merge Bears celebrating the Ethereum Merge (EIP3675) on optimism, 0.00042 ETH each. All sales and royalties are sent to Ethereum core developers via ProtocolGuild. This NFT is a composable NFT. Holders of executive layer bears + consensus layer bears can mint merged bears.
ConsenSys celebrates the successful Ethereum merger NFT series "Regenesis" is open for minting. This NFT embodies the sustainability, security and scalability of The Merge. Minting will be free to everyone for 72 hours from the date of the merger, and users only need to pay for Gas. Foundry address:https://consensys.net/merge
