Final Sunset Plan for BNB Beacon Chain: Safeguard Your BEP-2 and BEP-8 Assets Before Shutdown

BNB Beacon Chain's Transition: Key Details

The latest announcement regarding the BNB Beacon Chain indicates that it is nearing its final sunset, with validators agreeing to cease operations by mid-November. This significant transition marks the end of transaction processing on the BNB Beacon Chain and is a pivotal part of the BNB Chain Fusion.

What is BNB Chain Fusion?

BNB Chain Fusion is a strategic initiative aimed at integrating the functionalities of the BNB Beacon Chain with the BNB Smart Chain (BSC). The primary objectives of this merger include:

• Enhancing operational efficiency
• Reducing security risks associated with managing multiple chains
• Aligning with future advancements in technology

Actions Needed for BNB Beacon Chain Asset Holders

With the impending shutdown of the BNB Beacon Chain, asset holders must act swiftly to prevent irreversible losses.

Migrate Your BEP-2 and BEP-8 Assets

To safeguard assets during this transition, holders should:

• Immediately transfer tokens from the BNB Beacon Chain to the BNB Smart Chain (BSC).
• Utilize centralized or decentralized exchanges, or wallets for these transfers.

Potential Risks of Inaction

Assets that are not migrated before the shutdown may face permanent loss. While many assets have already been transferred, remaining tokens must be moved without delay.

Guidelines for Centralized Exchanges (CEXs)

CEXs play a critical role in facilitating the transition of assets from the BNB Beacon Chain.

Recommended Actions

• **Disable Deposits**: CEXs should halt deposit functions for the BNB Beacon Chain immediately.
• **Consolidate BEP-2 Assets**: All BEP-2 assets must be consolidated into secure cold wallets ahead of the system shutdown.

Consequences of Non-Compliance

If exchanges fail to collect all tokens from user deposit addresses, it may result in recovery difficulties and potential asset loss.

Post-BNB Chain Fusion: Historical Data Access

Even after the BNB Beacon Chain shutdown, access to historical blockchain data will remain available through:

• RPC nodes
• Blockchain snapshots
• Mainnet explorers

Access to Balance Snapshots

A specific block height post-fusion will be utilized to take snapshots of user balances, enabling verification of holdings.

Token Migration Post-Sunset

A recovery tool will be available for the migration of assets post-sunset. However, it's crucial to note that any assets lacking cross-chain functionality will be permanently lost.

Conclusion

As the BNB Beacon Chain heads towards its final shutdown, timely action is essential for both individual asset holders and exchanges. Following the outlined guidelines will ensure a smooth transition and the safety of assets during this significant change in the BNB ecosystem.