OKX will support migration of MATIC token to POL
OKX will support migration of MATIC token to POL
OKX, a leading cryptocurrency exchange, says it will support the upcoming MATIC token migration to POL scheduled for early September 2024.
OKX has announced its support for the upcoming migration of Polygon's MATIC token to the new POL token, as part of a significant upgrade to the network.
The migration process will begin with the suspension of MATIC deposits and withdrawals on the Polygon PoS Network at 3:00 am (UTC) on August 30, 2024. On September 3, POL deposits will open on the ERC20 mainnet, followed by withdrawals on September 4.
Spot trading for POL/USDT and POL/USDC will commence on September 4. MATIC pairs will be delisted by September 7th, and on the same day staked MATIC will be automatically converted to POL. All earnings will continue to accumulate until this date and will be distributed after the migration.
OKX will also end MATIC borrowing and margin trading on September 3, and delist MATICUSDT perpetual futures on September 9. A snapshot of user balances will occur on September 9 to finalize the conversion of MATIC to POL at a 1:1 ratio.
This token migration marks an evolutionary step for Polygon, positioning the network for future scalability.
Users are advised to monitor the migration schedule closely and adjust their holdings and trading strategies accordingly to ensure a smooth transition.
Founded in 2017, OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume. Trusted by more than 50 million users in over 180 countries, OKX provides a robust platform that empowers every individual to explore the world of crypto.
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