Polygon’s long-awaited upgrade from MATIC to POL is happening on September 4th, 2024. Depending on where you hold your MATIC tokens, you may need to take action to ensure a smooth transition. Here’s a guide for users on different platforms:
1. MATIC Holders on Polygon PoS
- No Action Required: If your MATIC is on the Polygon PoS network, it will automatically upgrade to POL.
- Important Note: Ensure your wallet’s RPC settings are updated to reflect the new POL token symbol. If not, your wallet may still display “MATIC” instead of “POL.”
2. MATIC Holders on Ethereum
- Manual Migration Required: You will need to manually upgrade your MATIC to POL.
- Options:
- Use a DEX Aggregator: Platforms like Kyber or CowSwap offer a user-friendly way to migrate your tokens.
- Direct Contract Interaction (Advanced Users): If you’re familiar with smart contracts, you can use the migration contract directly on Ethereum. Be careful, as incorrect use can lead to a loss of funds.
3. MATIC Holders on Polygon zkEVM
- Manual Migration or Bridging Required: You can either:
- Bridge to Ethereum: Transfer your MATIC to Ethereum and follow the steps for Ethereum holders.
- Use a zkEVM DEX Aggregator: Swap your MATIC for POL directly on a zkEVM-based DEX or aggregator.
4. MATIC Holders on Centralized Exchanges (CEXes)
- Check with Your Exchange: If your MATIC is on a centralized exchange like Binance, most major exchanges will handle the upgrade for you automatically. However, it’s essential to check the exchange’s announcements for any specific instructions.
5. MATIC Holders in Wallets (e.g., Trust Wallet, MetaMask)
- Action Depends on Network:
- Polygon PoS: No action needed; your MATIC will upgrade automatically.
- Ethereum or Polygon zkEVM: Follow the steps outlined above for those networks to migrate your tokens.
6. MATIC Held in Smart Contracts
- Polygon PoS: No action required; MATIC in smart contracts will automatically upgrade to POL.
- Ethereum and zkEVM: Manual upgrade needed. Update your smart contracts to support POL, or interact with the migration contract.
Key Dates:
- September 4th, 2024: The mainnet upgrade from MATIC to POL takes place.
Take Action Now to ensure your tokens are ready for the transition. Keep an eye on official Polygon channels for the latest updates, and ensure you don’t miss out on the benefits of the new POL token! 🌐✨
