The upcoming ETH Merge: how it will affect VALR customers

Updated 7 September 2022

Ethereum is progressing with efforts to migrate the ETH blockchain away from a proof of work (PoW) consensus mechanism to proof of stake (PoS). This event is known as “The Merge”. 

This switch to PoS for Ethereum is estimated to occur on 14 September 2022, around ETH mainnet block height 15,540,293 when Ethereum Mainnet hits the Terminal Total Difficulty (TTD) value of 58750000000000000000000.

The Merge will occur in two steps, Bellatrix consensus layer upgrade and Paris execution layer upgrade.

VALR intends to support the merge to ETH PoS. After the merge is successful, ETH held in VALR wallets will refer to PoS ETH.  

In the case of a PoW ETH fork

It is possible that one or more forked PoW ETH could result after the Merge. If a canonical PoW ETH fork emerges, VALR reserves the right to decide at a future date whether to credit users with the PoW ETH token at a ratio of 1:1 based on PoS ETH held in VALR wallets as of the fork snapshot that will take place before the Paris execution layer upgrade.

VALR reserves the right to update the treatment of any forked PoW ETH at any time. VALR will evaluate the listing of the forked PoW ETH at a later date.

Please keep abreast of any further details regarding the Merge through our social channels.

Should users prefer to maintain full control over activities around the merge, please feel free to withdraw ETH from VALR well ahead of the expected date of the Merge. 

Disclaimer: forks of blockchains include significant risk. It is the sole responsibility of the end customer to understand the risks involved with the Ethereum merge. VALR does not accept responsibility for any losses that may result from the Ethereum merge.

Have a question? Contact our team at support.valr.com.