Forks Policy

Forks Policy

Overview

1.1. Policy Oversight

This Zero Hash Fork Policy (the "Policy") is maintained and enforced by Zero Hash Holdings Ltd. ("Zero Hash") and each Zero Hash subsidiary (collectively "Zero Hash"). By continuing to use any Zero Hash service, you are agreeing to the terms of this policy and consenting to Zero Hash's implementation and application thereof.

The Zero Hash Operating Committee (the "Operating Committee") is primarily responsible for the review of digital asset Forks and Airdrops, and determining the position that Zero Hash will take. Zero Hash legal, compliance, business, technical, risk and research staff may be involved in the process of reviewing new digital assets as per the Zero Hash Token Acceptance Framework, or as part of the Legacy Chain Review, but the ultimate authority to define a Legacy Chain and to decide whether a Fork and Airdrop will be supported by Zero Hash, lies with the Operating Committee.

Changes to the Policy must be approved by the Operating Committee.

1.2. Definitions

  • Airdrop: An "Airdrop" occurs when a digital asset blockchain issues a new digital asset to certain or all public keys or addresses from another blockchain.
  • Fork: A "Fork" is a permanent change in the consensus algorithm that emerges when a new consensus layer is applied to an existing blockchain.
  • Legacy Chain: The "Legacy Chain" is the digital asset blockchain which is deemed to be the original blockchain from which a Fork is created.
  • New Chain: The "New Chain" is a digital asset blockchain that is created as part of a Fork.

1.3. Policy Focus

Forks and Airdrops have become a vehicle for delivering digital assets to holders of existing digital currencies, and many questions have arisen concerning the ownership to and distribution of Forked and Airdropped digital assets. Each Fork or Airdrop faces unique technical, safety, liquidity, and timing challenges. Zero Hash will not make any Fork or Airdrop available to any account holders that is not also supported by its third-party wallet partner. Zero Hash will take into account security, value, technical stability, market capitalization, liquidity, and costs, as well as any other factor Zero Hash deems relevant, in the deployment of this Policy. This document addresses Zero Hash's actions in the event of a Fork or Airdrop relating to any digital asset made available by any Zero Hash entity for custody or market services.

1.4. Supporting a Fork or Airdrop

There are different forms in which Zero Hash may support a forked digital asset. Zero Hash will always aim to offer physical trading of digital assets traded on the platform, but if wallet providers do not offer the Fork or Airdrop, Zero Hash can facilitate other forms of support via financially-settled transactions.

1.4.1. Physical Trading

To allow trading of the physical Fork or Airdrop on a Zero Hash trading venue. See Physical Storage below for the requirements for this.

1.4.2. Financial Trading

To allow trading of financially-settled contracts related to the Fork or Airdrop on a Zero Hash trading venue. This does not require Zero Hash to have the ability to store the physical asset.

1.4.3. Physical Storage

To allow storage of the physical Fork or Airdrop. This requires Zero Hash to have the ability to store the Fork or Airdrop, and therefore must have the ability to generate wallets and interact with the New Chain through its third-party wallet provider, or otherwise.

1.5. Policy Disclaimer

Zero Hash reserves the right to update this policy and the criteria for measuring the viability of a Fork or Airdrop from time to time based on new technological, legal, or environmental factors that may emerge. You agree and understand that Zero Hash is unlikely to support most Forks and Airdrops and that the corresponding digital assets of most Forks and Airdrops will likely not be made available to you.

Fork and Airdrop Support Policy

2.1. Review Process

Safety of customer account holdings and stability of Zero Hash systems are Zero Hash's primary concerns in the implementation of this Policy. Zero Hash will monitor developments in all digital assets for announced or planned Forks and Airdrops.

2.2. Review Principles

2.2.1. Technical Stability and Security

Zero Hash will not support any Fork or Airdrop where Zero Hash believes that the resulting digital assets are unsafe, vulnerable to attack, or may put Zero Hash systems at risk.

2.2.2. Market Capitalization and Liquidity

Zero Hash will not support minor or nominal Forks and Airdrops. In order for Zero Hash to support a digital asset, the asset will need sufficient market capitalization and liquidity.

2.2.3. Costs

Supporting new digital assets involves significant overhead for Zero Hash. The costs associated with supporting a digital asset will be a factor in Zero Hash's review of all Forks and Airdrops.

2.2.4. Timing

Zero Hash cannot guarantee that any Forked or Airdropped digital asset will be made available at the time the Fork or Airdrop occurs, nor can Zero Hash guarantee that any Airdrop with a window will be made available at all.

2.3. Legacy Chain Review

In all cases where Zero Hash aims to support a Fork, the Operating Committee will be tasked with implementing this Legacy Chain Review. The Operating Committee may, at its own discretion, take a variety of factors into consideration in the implementation of this policy.

2.3.1. A Clear Legacy Chain Exists

If the Operating Committee determines that there is a clear Legacy Chain with a New Chain and new digital asset being formed, such as the case of Bitcoin and Bitcoin Cash, then the Operating Committee must only review the New Chain and its new asset in the context of approving a new digital asset.

2.3.2. No Clear Legacy Chain Exists

When there is no clear Legacy Chain, such as the case of Bitcoin Cash ABC and Bitcoin Cash SV, the Operating Committee will monitor and review the technical and and non-technical aspects of each resulting blockchain and will also review the Token Acceptance Framework for each resulting Forked digital asset.

2.3.3. Legacy Chain Review Disclaimer

Zero Hash disclaims all liability relating to any decision made pursuant to this policy. You agree that the implementation of this policy is left to Zero Hash's discretion.

Disclaimer

There may be outages for an unknown period of time caused either directly or indirectly from the fork. Zero Hash always strives to communicate situations as they occur for maximum transparency to our Platforms and Partners.