Dear OKX Users,
Super Bitcoin (SBTC) has announced a hard fork at block height 498,888 (estimated around December 13, 2017, Beijing Time). As a platform committed to Bitcoin and digital asset innovation, OKX prioritizes user autonomy in supporting diverse Bitcoin development paths. We'll facilitate market choice without influencing technological preferences.
Key Exchange and Trading Details
- Multi-Asset Support: OKX will enable withdrawals and trading for all fork-generated coins, granting full asset control.
SBTC Naming Convention:
- Post-conversion BTC will be temporarily frozen as F4SBTC.
- Frozen assets (F4SBTC) remain non-tradable/withdrawable until fork completion.
Conversion Window (Dec 7–Block 498,888):
- 1 BTC ↔ 1 SBTC + 1 F4SBTC (reversible).
- SBTC/BTC trading pairs will be available.
- Fork Failure Protocol: F4SBTC reclaimable 1:1 as BTC.
Successful Fork Outcomes:
- SBTC distributed 1:1 to BTC holders.
- F4SBTC automatically reverts to BTC.
- Additional Forked Coins: If other stable forks emerge pre-498,888, users receive proportional "fork candies" based on BTC+F4SBTC holdings.
Pricing Adjustments:
- Post-fork, BTC becomes the new base currency (e.g., LTC/BTC shifts from LTC/(F4SBTC+SBTC) to LTC/F4SBTC).
- Anticipate potential price volatility in ETH/BTC, ETC/BTC, etc.
- Contract Accounts: Snapshot at block 498,888; SBTC distributed equivalent to user equity (balance + realized/unrealized P&L).
- C2C Accounts: Snapshot based on available BTC; proportional SBTC allocated post-fork.
👉 Secure your Bitcoin holdings before the fork
Critical Reminders
- Risk Advisory: Digital asset trading carries high risk—assess personal tolerance before participating.
- Service Suspension: BTC deposits/withdrawals paused pre-fork until network stabilizes. Deposit early to avoid liquidity gaps during volatility.
OKX ensures technical handling of all fork-related processes, safeguarding user assets throughout transitions.
FAQ
Q: Can I trade SBTC immediately after conversion?
A: No—F4SBTC remains locked until fork completion. Only SBTC/BTC trading pairs are active during the window.
Q: What happens if SBTC fork fails?
A: Your F4SBTC automatically converts back to BTC at a 1:1 ratio.
Q: How are contract account rewards calculated?
A: Based on equity (balance + P&L) snapshot at block 498,888; equivalent SBTC distributed afterward.
Q: Why might crypto/BTC prices shift abruptly post-fork?
A: Base currency redefinition (BTC → F4SBTC) alters pair valuations—monitor markets closely.
Q: Are other forks besides SBTC supported?
A: Yes—OKX will credit any stable fork coins generated at or before block 498,888.
Q: When should I deposit BTC to avoid disruptions?
A: Prior to December 13, 2017, to ensure access during the suspension period.