SINGAPORE - Media OutReach - 27 April 2023 - BingX, a leading crypto copy trading exchange, has announced its support for the Filecoin (FIL) network upgrade. The upgrade is set to take place at Epoch 2,809,800, and BingX has put specific arrangements in place to facilitate the process.

To support the network upgrade, deposits and withdrawals on the Filecoin (FIL) network will be suspended from 2023-04-27 20:00 (UTC+8). However, it's important to note that the trading of FIL/USDT will not be affected during this period. BingX advises users to deposit the token in advance, and it will handle all technical issues involved during the network upgrade for users.

The Filecoin (FIL) network upgrade will not result in the creation of new tokens. BingX will reopen deposits and withdrawals for the Filecoin (FIL) network once the hard fork is deemed stable.

Filecoin has gone through a network upgrade called Lightning, which is version 19 of the network. The upgrade includes changes to the storage market actor's deal maintenance interval from 1 day to 30 days, which will reduce block validation costs and alleviate execution demands. This change will also help users catch up sync from a snapshot more quickly and improving network security. It also adds a no-operation handler to the multi-sig actor, allowing it to accept value transfers from smart contracts, ETH accounts, and placeholders. A bug fix for the sector activation epoch has also been made.

The network version 20 (Thunder) will also be rolled out, which includes a two-stage network version rollout to allow for a smooth transition for accepting new proof types. The expected timeline for the network upgrades is as follows: Mainnet v19 on May 9, and Mainnet v20 on May 16. The upgrades will have both Lotus v1.22.0 and Lotus v1.23.0 versions. The former will include everything needed for the network upgrade, while the latter will include all enhancements in v1.21.0 plus newer enhancements not in any version.