Bitfinex Bitcoin Exchange added support for Chain Split Bitcoin Cash tokens
The Hong Kong cryptocurrency exchange Bitfinex has added to the listing the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol, in whose network on November 15 there is likely to be a split.
Bitcoin Cash tokens resulting in “ABC” and “SV” on November 15, 2018. https://t.co/ gA3pai4YL8
– Bitfinex (@bitfinex) November 13, 2018
So, BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and US dollars. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.
After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchine tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.
Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist, allowing limited time for withdrawal.
Earlier, support for similar tokens was added by the Poloniex exchange.
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