Binance Now Supports MATIC to POL Conversion

Binance to Support Polygon (MATIC) Conversion to POL on September 10, 2024

Binance, one of the largest cryptocurrency exchanges globally, has announced its support for the conversion of Polygon (MATIC) tokens to Polygon (POL) tokens. This significant shift is set to take place on September 10, 2024, and marks a critical development in the cryptocurrency market. As a result, all MATIC transactions will be halted, and POL transactions will commence.

Details of the MATIC to POL Conversion

As part of the conversion process, Binance will delist all existing MATIC spot trading pairs. The affected trading pairs include:

• MATIC/BNB
• MATIC/BRL
• MATIC/BTC
• MATIC/ETH
• MATIC/EUR
• MATIC/FDUSD
• MATIC/JPY
• MATIC/TRY
• MATIC/USDC
• MATIC/USDT

These pairs will be delisted starting from 06:00 AM Turkey time on September 10, 2024. Additionally, all pending MATIC spot trading orders will be canceled. Binance will open trading for new POL pairs, including:

• POL/BNB
• POL/BRL
• POL/BTC
• POL/ETH
• POL/EUR
• POL/FDUSD
• POL/JPY
• POL/TRY
• POL/USDC
• POL/USDT

Trading for these new POL pairs will commence at 1:00 PM on September 13, 2024. Users are encouraged to note these important dates and adjust their trading activities accordingly to avoid any disruptions.

Why is Binance Supporting the MATIC to POL Conversion?

The decision to support the conversion from MATIC to POL aligns with Binance’s strategy to adapt to evolving market dynamics and provide its users with the latest trading opportunities. Polygon, a leading Layer 2 scaling solution on the Ethereum blockchain, has undergone significant upgrades and developments over the years. The transition from MATIC to POL represents a new phase in Polygon’s journey, aiming to enhance scalability, security, and interoperability within the blockchain ecosystem.

For Binance users, this conversion provides a streamlined pathway to participate in the new POL token ecosystem, potentially benefiting from improved functionalities and integration with various decentralized applications (dApps).

Key Dates and Actions for Binance Users

Binance has provided a clear timeline for the MATIC to POL conversion process. Below are the key dates and actions users should take note of:

• September 10, 2024, 06:00 AM (Turkey Time): All MATIC spot trading pairs will be delisted, and any pending MATIC orders will be canceled.
• September 13, 2024, 1:00 PM: Trading for new POL pairs will be available on Binance.

Binance advises users to review their MATIC holdings and make necessary adjustments to align with the new trading pairs and timelines. Users should ensure they complete any MATIC-related transactions before the delisting to avoid potential losses or complications.

Binance’s Announcement on KLAY Cryptocurrency Update

In addition to the MATIC to POL conversion, Binance has also made an announcement regarding the Klaytn (KLAY) cryptocurrency. The exchange has stated that it will support the upcoming Klaytn network update and hard fork. This update is expected to occur around 4:30 AM on August 29, 2024.

Binance has assured its users that all technical requirements for the Klaytn update will be handled by the platform. However, users should remain informed about the changes and monitor the progress of the update to understand how it may impact their holdings or trading activities.

Conclusion

Binance’s support for the conversion from MATIC to POL and the Klaytn network update reflects its commitment to staying at the forefront of the cryptocurrency market’s developments. As the September 10, 2024, deadline approaches, Binance users should be vigilant in tracking these changes, ensuring they are prepared for the upcoming transitions in their trading activities.

For more detailed information, Binance users are encouraged to refer to the official announcements on Binance’s website or consult with customer support for any specific inquiries.