Many think that after Ethereum transitions to proof-of-stake (PoS), a faction of Ether (ETH) miners is going to be developing a proof-of-work (Bang) fork from the network to enable them to still keep mining. A professional believes there are methods for ETH holders to benefit from this approaching event.
Inside a Twitter thread, Bobby Ong, the co-founding father of token information website CoinGecko, shared his strategies with regards to the approaching ETH Merge. Based on Ong, ETH holders will quickly receive airdrops of ETH Bang tokens and shared some suggestions about how ETH holders can fully seize this chance.
Ong noted that the simplest way to obtain the fork airdrops would be to hold ETH at exchanges that offer the forks. However, holding ETH in hardware wallets would work and may create a trader qualified for the forked tokens.
To maximise the quantity that holders could possibly get, the manager also advised traders to bridge their tokens to the ETH mainnet, unwrap their Wrapped Ether (wETH) and take away their ETH liquidity from decentralized finance (DeFi) protocols.
Related: Exactly what the fork? Ethereum’s potential forked ETHW token is buying and selling under $100
Despite these pointers, Ong noted that although he might be qualified to obtain all the forked tokens, he’d not claim all the airdrops as a number of them might be scam attempts that will attempt to obtain access to his signature and keys. The manager also shared that his technique for the forked tokens would be to “sell all of them immediately.” He authored:
“Almost all of the fork tokens are actually dead because they are produced exclusively to help keep miners temporarily occupied with mining and also have no incentive to develop their community and usage.”
Meanwhile, nonfungible token (NFT) marketplace OpenSea stated it won’t be supporting forked NFTs in the platform. The most popular NFT buying and selling platform lately announced that it’ll only support NFTs around the upgraded PoS blockchain. Aside from OpenSea, blockchain oracle project Chainlink also expressed its support for that upgraded ETH network by announcing that Bang forks won’t be based on Chainlink.
