Crypto Investment Update – Ethereum Merge

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2022/09/09/crypto-investment-update-ethereum-merge/

There is an upcoming event on Ethereum called The Merge: https://ethereum.org/en/upgrades/merge/

The Merge represents the joining of the existing execution layer of Ethereum (ETH) with its new Proof-of-Stake (PoS) consensus layer, the Beacon Chain. This essentially replace the original Proof-of-Work (PoW) consensus mechanism in ETH with PoS in the new ETH (used to be called ETH2.0, but seems like going to retain the ETH symbol after the merge).

Yesterday (8 September 2022) I received an email from Tokenize Exchange about the Merge is going to take place on or around 15 September 2022 and what does it mean for their users:

One paragraph that caught my attention is that ETH deposited under Crypto Earn will not be included in the snapshot for consideration of the forked PoW ETH. Further details regarding the airdrop distribution will be announced separately.

Having gone through the long delay of receiving LUNA 2.0 Airdrop for my staked LUNC holdings in Crypto Earn, I don’t like the uncertainty of airdrop distribution for my ETH holdings in Crypto Earn. Hence, I have decided to redeem my ETH from Crypto Earn before the Merge happens.