Bitfinex, one of the leading cryptocurrency exchanges, adds Segwit2x Chain Split Tokens, despite the fact that the hardfork has not happened yet.
Now available on Bitfinex: Chain Split Tokens for proposed consensus change Segwit2x https://t.co/Nt66Q7XOgo
— Bitfinex (@bitfinex) October 5, 2017
Thus, Bitfinex is introducing new CSTs that will allow traders to speculate on the potential activation and mining of the Segwit2x consensus protocol. The company is designating these CSTs as BT1 (Incumbent Bitcoin Blockchain) and BT2 (Bitcoin Segwit2x).
The CSTs will trade against BTC and USD pairs, initially, without financing capabilities.
At this time, the Bitcoin ecosystem, through node and miner signalling, is trying to decide which protocol consensus rules it wants to support. This has introduced uncertainty and speculation about the value of each respective blockchain and the future of the Bitcoin network. This uncertainty affects many of our users who trading using financing. CSTs will provide a pricing continuity through the Chain Split Event and, in particular, the order books for the BT2 trading pairs will become the order books for the B2X pairs.
As detailed by the exchange team, upon creation, the BTC will be debited from your account and an equivalent amount of BT1 and BT2 will be credited. Users will also be able to reverse this process at any time, trading in equal numbers of BT1 and BT2 to extract BTC.