How to Claim ETH POW (ETHW) Airdrop Tokens After ETH 2.0 Merge and Hard Fork

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I present you the way to Claim ETH POW Tokens (ticker image ETHW) After ETH Merge and Hard Fork. Fork is to occur on September 15 at 1:12 AM CST in accordance to ethernodes.org/merge. I’d observe official ETHPOW account at @EthereumPoW. Exchanges that assist ETH POW tokens are Binance.com, FTX will record at a later date, Coinbase undecided. Here are those confirmed ETHPOW itemizing confirmed Nexo, Gate.io, Poloniex, MEXC, Phemex, DigiFinex, and CoinW. ETH POW backer is Chandler Guo. Follow him on Twitter for particulars.

Below are six steps to declare you ETH POW tokens after the merge.

First step
Hold ETH on the time of the POW fork.
The first is to maintain ETH on a self custoday pockets on the time of the PoW fork akin to Metamask. Do not maintain ETH on any alternate’s pockets the place you will not be ready to obtain the brand new tokens. Do not maintain Wrapped eth (WETH) on ETH chain. If you’ve got WETH on ETH chain unwrap them to ETH utilizing Uniswap with simply paying gasoline charges. Ethereum POW chain shall be launched 24 hours after the merge.

Some exchanges have already publicly let it’s identified that they’ll give them to their customers ought to the PoW fork achieve success, whereas different exchanges haven’t but mentioned something about it. However, those that maintain ETH on a non-custodial pockets will all the time have the ability to retrieve the brand new ETHPoW tokens.

Holding ETH on a pockets of an alternate that helps PoW fork, on the time of the fork, simplifies issues so much, as a result of the customers on this case will simply have to wait. Moreover, they will promote them as quickly as they obtain them, without having to wait till they are often withdrawn or deposited.

Second step
Do NOT maintain ETH on layer 2 akin to Optimism, Arbitrum, Polygon, Avalanche or others. In truth, those that hold ETH on layer 2 won’t be given any new ETHPoW tokens. So, on this case, it will be higher to transfer them to an everyday layer 1 pockets, i.e., convey them again to the Ethereum blockchain. I’d use multichain Router to Swap ETH from different chains than Eth into WETH on Ethereum. Multichain bridge could be very quick it took solely 5 minutes to bridge WETH on Fantom into WETH on Ethereum chain. Then use Uniswap to Unwrap WETH to ETH on Ethereum chain.

Third step
Do not Hold ETH on Defi protocols or you’ll not obtain ETHPOW tokens. I’d withdraw ETH from Defi protocols and maintain them in your Metamask or different Web3 self custoday pockets.

Fourth step
Borrowing ETH simply earlier than the PoW fork, and returning it quickly after. In this manner, extra ETHPoW might be obtained, though in fact it’s a danger. In truth, there is no such thing as a assure that this fork will succeed. The worth of the ETHPoW thus obtained could also be little or no at of this taking pictures it’s like $18 per token. The Merge, alternatively, which is a wholly completely different factor, should not have any drawback succeeding, no matter what occurs to the PoW fork.

It can also be value noting that ETH holders will obtain an an identical variety of ETHPoW, but in addition that the market worth of ETHPoW is definitely not that of ETH.

For instance, an individual who owns 0.5 ETH will obtain 0.5 ETHPoW. While 0.5 ETH is value about $700, 0.5 ETHPoW may be value solely $10, or one-sevetieth.

In truth, for many who have no idea, there are some type of “futures” out there about the worth that ETHPoW may have as soon as it lands in the marketplace (ETHW), and proper now that worth is estimated to be about $18, in contrast to about $1,500 for ETH.

Five step
Monitor the worth ratio between sETH and ETH, as a result of as he had talked about earlier many might want to promote sETH to money in ETH earlier than the PoW fork.

Six step
The tip: “purchase the rumor, promote the actual fact.” That is, think about promoting ETH after the fork. I’d not maintain ETHPOW for too maintain. If you bear in mind what happend to Bitcoin Cash (BCH) after the arduous fork it crash in value. Same factor will occur to ETHPOW until numerous Defi Protocols are launched on this new chain. I doubt any bit Venture Capitalist or Miners will pony up money to entice Defi Protocols to make this token value extra when it comes to utility.

In conclusion, As extra element emerge the place to go to declare you ETHPOW tokens, I’ll present it right here. Make positive to observe EthereumPOW and ChandlerGuo on twitter for particulars because it comes.

Time Stamp:
00:00 Introduction Ethereum Merge Countdown
00:40 Steps to Claim ETH POW tokens.
04:16 Risk and Rewards of ETH Pow Airdrop Claim

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#cryptocurrency #blockchain #crytotrading #Bitcoin #defi #NFT #cryptowallet

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