MATIC to POL: Quick Conversion Guide

Key Points of the MATIC to POL Migration

The Polygon 2.0 upgrade aims to transform Polygon from a single Proof-of-Stake (PoS) network into a dynamic ecosystem of interconnected blockchains powered by zero-knowledge (ZK) technology. Here are some crucial details:

• Migration Date: September 4th, 2024
• Conversion Ratio: 1 MATIC = 1 POL
• Total Supply: 10 billion POL tokens (same as MATIC)
• Annual Emission Rate: 1% for staking rewards + 1% for the community treasury

Understanding the AggLayer

The AggLayer is Polygon’s vision for a horizontally scalable multichain network that offers the following features:

• Shared Liquidity and State: Allows connected chains to share liquidity and state seamlessly.
• Near-Instant Cross-Chain Transactions: Facilitates rapid transactions across multiple chains.
• Unified Bridge to Ethereum: Provides a single bridge to Ethereum Layer 1 (L1) for all connected chains.
• Ease of Creating New Chains: Enables the easy creation of new L1 and L2 chains using the Polygon Chain Development Kit (CDK).
• Conversion of Existing Chains: Supports the conversion of existing Ethereum Virtual Machine (EVM) chains to ZK L2s using the Polygon zkEVM Prover Kit.

POL Token Features

The new POL token brings several innovative features to the Polygon ecosystem:

• Shared Security: POL validators can secure multiple chains within the AggLayer, enhancing overall network security.
• Increased Incentives: Validators can assume additional roles, allowing them to earn rewards across various Polygon chains.
• Expanded Validator Roles: Validators have the capability to generate ZK proofs and participate in data availability committees.
• Community Treasury: Continuous POL emissions will fund ongoing development, research, grants, and adoption incentives.
• Governance Rights: POL holders will have governance rights over the Community Treasury, enabling them to participate in decision-making.

Migration Process for MATIC Holders

For MATIC Holders on Polygon PoS

• No action required – Tokens will automatically convert to POL on September 4th, 2024.

For MATIC Holders on Ethereum or Polygon zkEVM

• Must use a migration contract to exchange tokens.
• There is no immediate deadline, but the community may establish one in the future.
• Use the link provided in the official announcement to ensure security.
• Be cautious of third-party services claiming to assist with the migration. Use official channels only.
• Security Tip: Avoid clicking on links provided by Polygon’s official channel, at least on the first day. Official accounts can be hacked, potentially draining your wallet. Wait for 24 hours and confirm details on Twitter, Telegram, and Discord. We will provide the migration contract link after verification.

The Ethereum to Polygon (MATIC on ETH chain) migration link is already available, and links for other ecosystems will open soon. There is no immediate rush to complete the migration.

Guidance for Centralized Exchange Users

Most centralized exchanges will handle the conversion process automatically. However, it is recommended to verify the specific process with your exchange to ensure a smooth transition.