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2022-08-25: Preparing for the Ethereum Proof of Stake Merge Event

Update (September 15): The Ethereum mainnet merge completed and withdrawals for all supported EVM assets are now operational again.

 

Preparing for the Ethereum Proof of Stake Merge Event in September

The Ethereum foundation recently provided a more concrete date (around September 15) for the Ethereum blockchain to transition from Proof of Work (PoW) to Proof of Stake (PoS) which merges the execution and consensus layers.

Advantages of the merge will be lower power consumption by the network by an estimated 99%+. The merge to Proof of Stake is the first step of 5 major releases (merge, surge, verge, purge, splurge) to increase the scalability and lower network fees of the Ethereum network over time.

While there is a published runbook for hard forks, the Ethereum mainnet is not considered a hard fork as the ETH and ERC20 symbols will remain the same and the network is expected to operate as usual post-merge. Any resulting hard forks, such as a continuation of the Proof of Work chain under symbol ETHW, will not initially be supported by Zero Hash.

How will Zero Hash implement the Merge?

PROD: The Ethereum mainnet is expected to continue operating in a similar manner both before and after the merge however Zero Hash will temporarily suspend Production withdrawals before and after the merge and create a maintenance notification. This suspension will delay any withdrawals for Ethereum, all ERC20 tokens where Ethereum is the Layer 1 network (i.e. USDC, Avalanche, Fantom), and ETH layer 2 chains (Arbitrum, Optimism, Polygon). Any withdrawals submitted during this time will be queued and resubmitted automatically once blockchain activity resumes unless the transaction ends in a failed state. ETH or ERC20 addresses created prior to the merge will remain the same post-merge and no changes are required by platforms. Trading will continue to be operational..

CERT: Zero Hash's Certification environment (CERT) uses Ethereum's Ropsten testnet which will stop receiving updates after the merge event. Zero Hash’s CERT network will cutover to the Goerli testnet prior to the merge targeting September 8th. While no behavior change is expected, any ETH or ERC20 deposit addresses previously created on the Ropsten testnet in CERT will need to be recreated on the Goerli testnet after the cutover. The new addresses will be different so any mappings or allowlisting to Ropsten addresses will need to be updated to the new Goerli addresses. Asset symbols and API functionality will not change due to the testnet cutover.

The intention is to provide parity on Goerli with the current CERT assets. A list of the updated Goerli smart contract addresses will be added in a section below. 

Timeline of Zero Hash Platform changes

  • Sept 8, 2022: Cutover CERT environment ETH testnet from Ropsten to Goerli. ETH Deposit addresses and allowlists in-use in CERT will need to be recreated on CERT again and updated to the new addresses.
  • Sept 14, 2022: ETH mainnet targeting the merge event. A maintenance window will be created that will pause ETH/ERC20/ETH L2 blockchain activity for approximately 10 minutes. Once the maintenance window is lifted blockchain activity is expected to resume to normal activity. 
    • Please note that activity on the following ZH supported blockchains will also be paused during the maintenance window, and will resume once the window is lifted:
      • Polygon (Native)
      • Avalanche
      • Fantom
    • Update on 9/13
    • Status page tracking

CERT Smart Contract Addresses

A different set of ERC20 smart contract addresses will be used in CERT on the Goerli testnet from the prior Ropsten versions. Here are the ERC20 tokens that were previously supported on Ropsten testnet in CERT, with their new corresponding Goerli smart contract address:

  • 0x (ZRX.ETH): 0xe4E81Fa6B16327D4B78CFEB83AAdE04bA7075165
  • Basic Attention Token (BAT.ETH): 0x70cBa46d2e933030E2f274AE58c951C800548AeF
  • Chainlink (LINK.ETH): 0x326c977e6efc84e512bb9c30f76e30c160ed06fb
  • Compound (COMP.ETH): 0xe16C7165C8FeA64069802aE4c4c9C320783f2b6e
  • Dai (DAI.ETH): 0xdc31Ee1784292379Fbb2964b3B9C4124D8F89C60
  • GMO USD (ZUSD.ETH): 0x01F5dB4F5bA927Fe73711C745473e6717C039ae3
  • GMO Yen (GYEN.ETH): 0x208d48E7Eb3F316214c28894b3a6aEa9E87C59A5
  • The Graph (GRT.ETH): 0x1441f298d1f15084A0e5c714c966033E39597dE7
  • Maker (MKR.ETH): 0xc5E4eaB513A7CD12b2335e8a0D57273e13D499f7
  • Polygon (MATIC.ETH): 0x499d11E0b6eAC7c0593d8Fb292DCBbF815Fb29Ae
  • The Sandbox (SAND.ETH): 0xbED9a4c4D99f5Ffe90e70996017c78a3bcDd8825
  • Uniswap (UNI.ETH): 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984
  • USD Coin (USDC.ETH): 0x07865c6e87b9f70255377e024ace6630c1eaa37f
  • Tether (USDT.ETH): 0x6ad196dbcd43996f17638b924d2fdedff6fdd677
  • Wrapped BTC (WBTC.ETH): 0xC04B0d3107736C32e19F1c62b2aF67BE61d63a05
  • Wrapped ETH (WETH.ETH): 0xb4fbf271143f4fbf7b91a5ded31805e42b2208d6

Please note that we will not have initial support on Goerli testnet in CERT for the following assets:

  • Axie Infinity
  • Paxos Gold 

When a Goerli testnet contract becomes available for the above assets, they will be added to the list of supported Goerli smart contract addresses in CERT. 

Additional Resources

  • Ethereum Foundation Merge Documentation
  • Please reach out to your client team with any additional questions