Dear Cobo users：
Ethereum's Merge is expected to take place in the third/fourth quarter of 2022. As the most trusted digital asset custody and asset management platform, Cobo monitors the Merge and current network conditions closely, and makes the following announcements with the upmost objective of protecting our clients’ assets：
- Cobo will support the Merge and will suspend all ETH deposits and withdrawals before the Merge. An announcement on the ETH suspension will be released in advance prior to the Merge.
- For any potential new forked chains/tokens that may be generated after the Merge, Cobo will need to evaluate whether to support the distribution and withdrawal of the forked tokens. If the forked tokens meet the requirements of Cobo’s evaluation, Cobo will announce the timeline to support such tokens in a separate announcement.
- During the Merge, clients who have subscribed to Cobo’s wealth management products such as ETH fixed income, ETH flexi savings or ETH Defi Funds, will NOT be able to receive the potential distribution of the forked tokens if the product is still in its lock-up period or has not been redeemed to the client’s Cobo wallet. However, if the product has been redeemed and returned to the client’s Cobo wallet, and Cobo has decided to support the forked tokens, the issuance of forked tokens will be distributed to our clients accordingly. In which case, Cobo will announce the snapshot time before the upgrade according to the specific network conditions.
Cobo will continue to pay close attention to the progress of the Ethereum Merge. Any new updates will be announced promptly.
Thank you for your support.
Regards,
Committee Members
Singapore
