In mid-September we are waiting for Merge and the transition to POS. Miners are looking for loopholes to avoid being left with a pile of useless hardware. Surely the network will split into ETHPOW and Vitalkin’s ETH2.0. All ETH holders will get the drop. Is it necessary to maximize the yield, what are the risks and how to prepare for the coming events?
To begin with we suggest you to read the article from Bitmex about ETH transition to new operating model and to read what very clever guys think about this whole situation.
Thesis, what is the danger of the transition of ETH to PoS?
- Miners can sabotage the merger by switching to other networks = network instability, increased block time, rising gas prices. Not advised to keep assets in DeFi on ether and its L2. Possible oracle problems that will cause rekt. Do not use bridges.
- Exchanges may pause the deposit/withdrawal of assets on the Ethereum network. If you don’t plan to get a drop or potential fork, or just want to stay liquid in case of force majeure market spills, you better take care of that in advance by moving stubs to the Tron or BSC network
- Expect a wave of scammers who will chirp you in the PM or create fake sites / pages, offering to lure “drop” ETHPOW – it’s scam! Be careful! Do not pass on your cid phrase to anyone!