Binance.US Preps for MATIC to POL Migration

Upcoming Polygon Token Migration

Binance.US users, get ready! The exchange is set to support the migration of Polygon (MATIC) tokens to the new Polygon (POL) token. This migration aims to enhance the Polygon network and is part of a broader network upgrade scheduled for September 4th, 2024.

Details of the Token Migration

Here’s what you need to know about the migration process:

• Automatic Token Swap: Binance.US will automatically swap all MATIC tokens held on its platform to POL at a 1:1 ratio. This ensures a seamless transition for users without requiring any action on their part.
• MATIC Ticker Delisting: Following the upgrade, the MATIC ticker symbol will be delisted, and POL will become the new representation of the Polygon network token.
• Notification: Users will be notified of the exact timing of the swap closer to the migration date.

Important Information for Users

Until POL is fully supported, any POL deposits made via the Polygon network will be credited to your account as MATIC. Additionally:

• MATIC Deposits and Withdrawals: Deposits and withdrawals of MATIC via the Ethereum (ERC20) network will remain operational unless otherwise communicated by Binance.US through the platform, status page, or supported assets list.
• POL Support: After the migration, POL deposits and withdrawals will also be supported on the Ethereum (ERC20) network.

Binance.US’s Commitment to Innovation

This migration reflects Binance.US’s commitment to providing users with access to the latest blockchain technologies. The Polygon network, known for its scalability and low transaction fees, has become a popular choice among developers and users.

With the transition to POL, Binance.US users can look forward to benefiting from the enhanced capabilities and growth opportunities that the Polygon network offers. This move further solidifies Binance.US’s position as a leading player in the cryptocurrency market.