OKX announced support for the upcoming mainnet upgrade of the MINA network. hard forkAccording to OKX, it will be held on June 4, 2024 at 9:00 AM (UTC).
Upgrade details
To ensure a smooth transition during the upgrade, OKX will temporarily suspend deposits and withdrawals of MINA tokens and tokens belonging to the Mina network from 8:00 AM (UTC) on the same day. The outage will remain in effect until the network is deemed stable after the upgrade. To ensure the safety of funds, it is important for users to refrain from making new deposits or withdrawals during this period.
Transaction Impact
OKX has assured users that trading activity for Mina (MINA) tokens, including spot, margin and derivatives trading, will not be affected by the network upgrade. However, traders are advised to keep in mind the risks involved and consider lowering the potential risk by increasing margins.
technical processing
Users holding Mina (MINA) tokens or Mina network-related tokens in their OKX accounts do not need to take any action. OKX handles all technical requirements related to upgrades, ensuring a seamless experience for users.
Mina’s background
Mina is known for being a lightweight blockchain designed to maintain a constant size of approximately 22KB regardless of the number of transactions. This unique feature aims to ensure decentralized scalability and accessibility, making it one of the most efficient blockchains in the industry.
The upcoming upgrade is expected to improve the performance and security of the network, in line with Mina’s mission to create a more efficient and decentralized blockchain ecosystem.
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