BinanceTagged as the largest crypto exchange by trading volume, it has announced the launch of the mining pool for the Ethereum Proof-of-Work (ETHW) protocol.

According to Binance, users who choose to join the ETHW mining pool will not be charged any pool fees and the offer will be billed until October 29.

The exchange said that it has only created the enablement for ETHW withdrawals, but that deposits will be available soon. The trading platform said that in a bid to protect its clients, there is no guarantee whether it will list ETHW in the near future. The exchange said it will adhere to strict policies like it does with other notable tokens it supports to protect its customers.

ETHW is a layer 1 blockchain protocol that was forked from the Ethereum network after the Merge event that started earlier this month. With the Ethereum mainnet now operating on the proof-of-stake consensus model, the ETHW protocol has maintained the mining model to preserve the legacy of the network.

While many Ethereum-centric platforms like OpenSea have signaled that they will not support the ETHW protocol, the level of adoption of the new coin has been wide-spread, especially among the retail owners to whom the coin was released.

While Binance is unsure if it will list the token, a number of prominent exchanges, including FTX, Kraken, KuCoin, Huobi Global, and Gate.io have listed the coin for trading. With the traction it has gained so far, the EthereumPoW protocol has come up with a list of the first protocols in its ecosystem and has invited the developer ecosystem to join its ranks.

Priced at $11.96 on a market cap of $1.45 billion, according to data from CoinMarketCap, ETHW is gaining much-needed momentum as is Ethereum Classic, another digital currency that forked from Ethereum in July 2016.

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