On Thursday, September 15, 2022, Ethereum made history.
After years of research, experimentation, and testing, the Ethereum network transitioned from Proof of Work to Proof of Stake. It’s hard to overstate the significance of the event, which has implications for a slew of Ethereum properties:
- Security–Instead of security being provided by a decentralized network of computers trying to solve math problems, validators who have staked a significant amount of ETH will propose and be chosen at random to validate new blocks.
- Economics–The “triple halving” will reduce the issuance of token rewards significantly through token burning, locked stake, and reduced supply inflation, ultimately pushing Ethereum supply in a deflationary direction.
- Energy consumption–Alongside the security model changes, the switch from Proof of Work will bring a dramatic and immediate decrease in the energy consumption of the Ethereum network.
- Politics–This new environmental reality could shape the political response to Ethereum and crypto in general, but PoS also has potential implications for censorship as large staking bodies could be forced to comply with sanctions.
The reality is no one knows what all the long-term implications of this monumental transition will be. What’s clear, however, is that it is one of the most significant events in the history of the crypto industry. Kudos to all those who have been working for years to make this a reality. Bringing together so many independent actors is not just an engineering challenge, but a social feat as well.
To commemorate the Ethereum Merge, Nexo has launched its ETHchange promo on nexo.pro
Ethereum Merge, Nexo Style
ETH + Exchange = ETHchange. With the big event approaching, Nexo brings you the opportunity to act on your ETH sentiment. Here’s how you can do that:
- Join In: Swap to or from Ethereum on the Nexo Exchange or Nexo Pro for at least $100 until Sep 20.
- Keep Swapping: The more you swap, the higher your chance to become a winner. Each $100 gets you one entry.
- Win: Be the one to win the big prize of 10 ETH or be among the 10 winners who get 0.5 ETH each.
BONUS: for every swap you make, Nexo will give you up to 0.5% back in crypto rewards.
And the ETHchange WINNER is…
If you meet the above criteria, you’ll be generously rewarded for your efforts.
The 15 ETH will be divided between eleven people, drawn at random, as follows:
- 1 Person will get 10 ETH
- 10 People will get 0.5 ETH each
Regardless of whether you are betting big on ETH or think a lot of the price action has already taken place, there is still more than enough time for you to join in.
Nexo’s ETHchange Promo FAQs
How long will the ETHchange Promo last?
This limited-time promo will be available only from Monday, Sep 05 at 16:00 UTC to Tuesday, Sep 20, 2022, at 23:59 UTC.
When will the winners be announced?
All winners will be drawn and announced on social media, on the promo landing page and via direct messages on Sep 30, 2022. The prizes will be paid out in ETH on the same date and will land in your Savings Wallet immediately.
Note: Make sure you pass Identity Verification before making your first exchange transaction.
How many entries do I get for each Swap?
Each time you make a swap to or from Ethereum for at least $100 on the Nexo Exchange or Nexo Pro, you get one entry.
This means that if you for example, make an exchange transaction for the amount of $300 between Sep 5 and Sep 20, 2022, you will get 3 entries, thus increasing your chances of getting a reward.
Note: Buy with card transactions and exchange transactions put through our advanced trading platform Nexo Pro are also included in the promotion.
Can I participate if I already used the Nexo Exchange or Nexo Pro?
Absolutely yes! Everybody is welcome to participate in the promo and express their sentiment toward the ETH merge.
Get in on that Ethereum Merge action everybody is talking about and win!
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
