WazirX, the globally renowned cryptocurrency exchange in India, has announced the news about the platform supporting the highly anticipated forthcoming STEEM hard fork. The exchange through an official Twitter post conveyed that it shall distribute the new HIVE tokens to all the investors holding STEEM tokens on the exchange network.
|| Support for Steem hard fork & HIVE airdrop ||
WazirX will support the upcoming Steem hard fork expected to happen tomorrow, 20th March at 7:30 PM IST.
We'll also distribute the new HIVE Token to STEEM holders.
More info on our blog 👇https://t.co/MdKOWuX0wR
— WazirX (@WazirXIndia) March 19, 2020
According to the official news, the Hive blockchain is likely to get launched on March 20, 2020, at 7:30 PM IST. A snapshot of the STEEM tokens owned by the holders will be taken during the penultimate Steem block before the above-mentioned deadline.
WazirX will distribute the HIVE tokens to the owners in a 1:1 ratio, i.e., 1 STEEM will be considered equivalent to 1 HIVE token. The trading of STEEM will not face any hassle at the time of the hard fork infusion. STEEM is listed under the Rapid Listing Initiative, so WazirX has not yet enabled deposits and withdrawals for STEEM.
As part of the initiative, the users of WazirX will get their rewards through the airdrop within 20 days of Binance giving away HIVE tokens airdrop to its customers. Binance shall execute the airdrop only when the forked blockchain becomes secure and stable.
Key Points To Remember
-The accounts having less than 1 STEEM token will not get the HIVE token.
-WazirX will list HIVE only after Binance approves its listing on its network.
-The exchange will provide a HIVE wallet to its customers to credit the airdropped funds.
-Withdrawals shall not be allowed.
-It will facilitate a smooth off-chain transfer between the wallets of both the parties.