SEOUL, SOUTH KOREA – March 22, 2025 – Upbit, South Korea's leading cryptocurrency exchange, announced today that it will temporarily suspend all deposit and withdrawal services for Akash Network (AKT) to support the upcoming mainnet upgrade. The service suspension is scheduled to take effect on March 23 at 11:00 UTC. This move highlights the close and dynamic relationship between centralized exchanges and the blockchain ecosystems they support.
Upbit's AKT Service Suspension: Details and Rationale
Upbit has issued an official announcement to its users, outlining the specifics of this service interruption. Effective from the aforementioned time, AKT deposit and withdrawal functionalities will be completely halted. However, it is important to note that trading AKT against Korean Won (KRW) and Bitcoin (BTC) will remain unaffected and continue as normal. This distinction is crucial for traders. The direct reason for this suspension is Akash Network's planned mainnet upgrade, codenamed "Project Twilight." Such network upgrades typically require validators and node operators to implement new software versions. During this transition phase, transaction finality can be subject to instability. To safeguard user assets against potential risks like chain reorganizations, exchanges like Upbit implement temporary suspensions of external transfers.
Within the industry, exchanges pausing services during such upgrades has become a standard operating procedure. For instance, major platforms like Binance and Coinbase have frequently adopted similar temporary service suspensions during Ethereum hard forks or Cosmos SDK chain upgrades. The paramount objective of this process is to ensure the absolute security of user assets. The Akash Network development team has confirmed that this upgrade aims to enhance network throughput and introduce new staking mechanisms, improvements expected to significantly empower operators within the platform's decentralized cloud computing marketplace.
Understanding the Akash Network Upgrade Context
Akash Network operates as a decentralized cloud services marketplace, enabling users to lease underutilized computing resources globally. Its native token, AKT, is used not only to facilitate transactions within the network but also to secure the network through staking mechanisms. The upcoming "Project Twilight" upgrade represents a significant technological evolution for the network. Key enhancements, as detailed in the project's official roadmap, include an improved fee model and more robust Inter-Blockchain Communication (IBC) capabilities. These upgrades are anticipated to boost Akash Network's appeal to developers seeking scalable and cost-effective cloud solutions.
Blockchain analysts point out that successful network upgrades often correlate positively with the long-term price performance of the underlying asset. However, short-term price volatility is common during service suspensions, and traders may experience a period of uncertainty before services are fully restored. The table below summarizes the core components of Akash Network's upgrade:
| Upgrade Component | Description |
|---|---|
| Network Throughput | Enhanced data processing capabilities |
| Staking Mechanisms | Introduction of new token staking methods |
| Fee Model | Optimized transaction fee structure |
| IBC Capabilities | Strengthened interoperability with other blockchains |
Industry Experts on Exchange Protocols During Upgrades
Industry experts emphasize that Upbit's action aligns with established industry norms.