OKX, a leading global cryptocurrency exchange and Web3 technology company, has confirmed its support for the upcoming migration of MATIC tokens to POL tokens. This transition aligns with Polygon's official roadmap and aims to streamline the token ecosystem.
Key Dates and Migration Process
The migration process will follow this timeline:
- August 30, 2024: MATIC deposits and withdrawals suspended on Polygon PoS Network.
- Early September 2024: POL deposits and withdrawals open on ERC20 Mainnet.
- September 4, 2024: Launch of POL/USDT and POL/USDC spot trading pairs.
- September 9, 2024: Delisting of MATIC trading pairs and perpetual futures; automatic 1:1 conversion of MATIC to POL.
👉 Learn more about POL migration
User Recommendations
To ensure a seamless transition, OKX advises users to:
- Close open margin positions.
- Repay outstanding loans before deadlines.
- Monitor announcements for adjustments to margin trading and flexible loans.
Why This Migration Matters
The upgrade from MATIC to POL enhances scalability and interoperability within Polygon's ecosystem. This move reflects broader industry trends toward multi-chain compatibility and improved utility.
FAQ
1. Will my MATIC tokens lose value after migration?
No, MATIC will convert 1:1 to POL, preserving their total worth.
2. Can I still trade MATIC after September 9?
No, MATIC trading pairs will be delisted; only POL pairs will remain active.
3. Is manual action required for the conversion?
No, OKX will automatically convert holdings—no user intervention needed.
4. What happens to my MATIC in open orders?
All open MATIC orders will be canceled before delisting.
👉 Secure your assets with OKX Wallet
About OKX
OKX is a trusted platform serving millions of users and institutions worldwide. Committed to transparency, it publishes monthly Proof of Reserves and offers comprehensive educational resources via OKX Learn.
For media inquiries, contact: M[email protected].
Disclaimer: Markets Insider and Business Insider were not involved in creating this content.
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