OKX, a leading global cryptocurrency exchange, has announced it will fully support the upcoming migration of Polygon's MATIC token to the new POL token. This strategic upgrade, scheduled for early September 2024, represents a significant evolution in Polygon's network architecture.
Key Dates for MATIC to POL Migration
👉 Don't miss the MATIC to POL migration timeline
- August 30, 2024 (3:00 AM UTC): Suspension of MATIC deposits/withdrawals on Polygon PoS Network
- September 3, 2024: POL deposits open on ERC20 mainnet
September 4, 2024:
- POL withdrawals begin
- Spot trading launches for POL/USDT and POL/USDC pairs
September 7, 2024:
- MATIC trading pairs delisted
- Automatic conversion of staked MATIC to POL
September 9, 2024:
- MATICUSDT perpetual futures delisting
- Final snapshot for 1:1 MATIC to POL conversion
Trading and Staking Updates
OKX will implement several platform adjustments to facilitate this transition:
Margin Trading Changes:
- MATIC borrowing ends September 3
- Margin trading for MATIC closes simultaneously
Staking Conversion:
- All staked MATIC automatically converts to POL on September 7
- Earnings accumulate until conversion date
New Trading Pairs:
- POL/USDT and POL/USDC available from September 4
Why This Migration Matters
This token migration represents a strategic upgrade for Polygon's ecosystem, enhancing:
- Network scalability
- Cross-chain interoperability
- Future protocol developments
👉 Understand the benefits of POL token migration
User Preparation Guide
To ensure a smooth transition, OKX users should:
- Complete all MATIC transactions before August 30
- Withdraw MATIC assets before the suspension
- Review staked MATIC positions
- Monitor official OKX announcements for updates
About OKX
Founded in 2017, OKX has grown to become:
- The second-largest crypto exchange by trading volume
- Serving 50+ million users across 180+ countries
- A comprehensive platform for both beginners and professional traders
Frequently Asked Questions
When will MATIC trading stop on OKX?
MATIC trading pairs will be delisted on September 7, 2024. After this date, all MATIC holdings will automatically convert to POL.
What's the conversion rate for MATIC to POL?
The conversion occurs at a 1:1 ratio. Your MATIC balance will become an equivalent POL balance after September 9.
Can I still stake MATIC during the migration?
Yes, but all staked MATIC will automatically convert to POL on September 7. Earnings will continue accumulating until conversion.
Will POL have the same trading pairs as MATIC?
Initially, OKX will offer POL/USDT and POL/USDC pairs. More pairs may be added based on market demand.
How does POL differ from MATIC?
POL introduces enhanced functionality for Polygon's upgraded network, including improved scalability and cross-chain capabilities.
Should I convert my MATIC manually?
No action is required - OKX will handle all conversions automatically between September 7-9 at the 1:1 ratio.
Final Reminders
- Review your MATIC holdings before August 30
- Monitor your converted POL balance after September 9
- Explore new trading opportunities with POL tokens