Announcement: Sollet Bridge soETH holders on the Merge
Please note below on changes related to the Sollet Bridge around the Merge.
The Merge is scheduled to happen on around Sep 15. The current Ethereum Mainnet will merge with the Beacon Chain proof-of-stake system.
After the Merge, soETH (Wrapped Ethereum (Sollet)) holders will not receive powETH, and will instead receive posETH. If holders wish to receive powETH, they must bridge back to Ethereum. Please refer to this earlier blog post on instructions on how to bridge assets.
The Sollet Bridge will be paused within 24 hours before the Merge and will be unpaused within 24 hours after the merge.
For questions and developer support, please feel free to reach out at firstname.lastname@example.org.
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What is the Merge?
The Merge represents the joining of the existing execution layer of Ethereum (the Mainnet we use today) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminates the need for energy-intensive mining and instead secures the network using staked ETH.
References on the Merge
Ethereum Mainnet Merge announcement: https://blog.ethereum.org/2022/08/24/mainnet-merge-announcement
Ethereum Foundation Merge Documentation: https://ethereum.org/en/upgrades/merge/#what-is-the-merge