China based Houbi cryptocurrency exchange announced its SegWit2x contingency plans for the firm’s trading platform Huobi Pro. The exchange details that its plans to support all the tokens that derive from the planned Segwit2x hard fork.
Houbi Pro will support all coins deriving from the Segwit2x hard fork.
The trading platform Houbi Pro revealed its decision-making process on October 17th for the upcoming fork scheduled for mid-November.
The trading platforms explains,
“Huobi Pro does not have the right to pick and choose any coins deriving from bitcoin Segwit2x hark fork on behalf of our users. Therefore, Huobi Pro will support all coins deriving from bitcoin Segwit2x hard fork and our users have the options to choose which coins to trade”.
Segwit2x futures plans
However, Houbi has plans for how it will handle the fork before as well as after the proposed consensus change. The exchange is offering futures as Houbi Pro plans to list BT1/BTC and BT2/BTC trading pairs on October 19. The exchange says that this is to ensure risks such as replay attacks and network instability do not effect its user base.
Moreover, if the hard fork is successful Houbi plans to rename the new chain split coin and reward customer with token at ratio 1.1. Therefore, fork fails, Houbi will cease actively trading BT1 and BT2 futures tokens.
Houbi Pro tells its customers,
“If your bitcoins are stores on trading platforms that do not support the Segwit2x chain split coins, or you are using wallet without anti-replay attack function, we strongly suggest you deposit bitcoins to Huobi Pro and we will handle all resulting technical issues relates to the bitcoin Segwit2x hard fork and reward you with the corresponding digital asset”.
Considerably, the company emphasizes that digital assets are risky and come with price volatility. Split tokens are being extreme price swings and could become worthless.
“Before investing, please have a full understanding of all the risks of investing in digital assets and be prudent of your own investment decisions,” the digital asset exchange notes”.