On October 1, 2024, we will be migrating the Polygon team’s native token MATIC to a new symbol called POL. Here are the details of the upcoming migration plans:
Here is what you need to know:
- On October 1, 2024, all the Polygon network MATIC holdings on our platform (currently shows as MATIC_POLYGON) will be automatically migrated to the symbol POL. MATIC_POLYGON will subsequently be delisted from our platform, meaning it will no longer be visible on the explore page, or in your portfolio.
- We will continue support for the Ethereum network MATIC on our platform until further notice.
Why is this happening?
In 2023, the Polygon team announced their intent to migrate native token from MATIC to POL. This migration is being performed as part of that process. For more information, please read the upgrade announcement posted by the Polygon team.
How will the migration work?
At the time of migration, your Polygon network MATIC holdings on our platform (currently shows as MATIC_POLYGON) will be automatically migrated, and you will be issued a commensurate amount of POL tokens on the Polygon network at a rate of 1:1. Your Ethereum network MATIC holdings will remain unchanged, and unconverted.