Binance to Support Polygon (MATIC) Swap to Polygon (POL) Token
Peter Zhang Aug 29, 2024 05:08
Binance announces support for the Polygon (MATIC) token swap to Polygon (POL), with detailed instructions and timelines for users.
Binance has announced its support for the Polygon (MATIC) token swap to Polygon (POL), according to Binance. The transition will involve delisting all existing MATIC spot trading pairs and introducing new POL trading pairs.
Key Dates and Changes
On September 10, 2024, at 03:00 UTC, Binance will delist all MATIC spot trading pairs, including MATIC/BNB, MATIC/BRL, MATIC/BTC, MATIC/ETH, MATIC/EUR, MATIC/FDUSD, MATIC/JPY, MATIC/TRY, MATIC/USDC, and MATIC/USDT. Trading for new POL pairs will begin on September 13, 2024, at 10:00 UTC. Users are advised to cancel all pending MATIC spot trading orders before the delisting.
Deposits and Withdrawals
Deposits and withdrawals of MATIC tokens will be suspended starting from September 10, 2024, at 03:30 UTC. Binance will announce when POL tokens can be deposited and withdrawn after the swap is complete. Withdrawals of MATIC tokens will no longer be supported post-swap.
Futures and Margin Trading
Binance Futures will close all positions and conduct an automatic settlement on MATICUSDT and MATICUSDC USDⓈ-M Perpetual Contracts at 09:00 UTC on September 4, 2024. The MATICUSD COIN-M Perpetual Contract will be settled and delisted at 09:30 UTC on the same day. Margin trading for MATIC will be delisted from both Cross and Isolated Margin on September 5, 2024, at 11:00 UTC.
Loans and Simple Earn
From September 4, 2024, Binance Loans will close all outstanding loan positions for MATIC. Simple Earn will cease support for MATIC Flexible and Locked Products from September 9, 2024, at 03:00 UTC. These products will be automatically redeemed, and resubscription for POL assets will commence on September 13, 2024.
Other Services
Binance will also update its Dual Investment, Convert, Convert Low-Value Assets, Auto-Invest, and Buy & Sell Crypto services to accommodate the token swap. Users are advised to closely follow all instructions to avoid potential losses during this transition period.
For the latest updates and detailed instructions, users should refer to the official announcement on Binance's website.
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