Bitvavo will support the Polygon (MATIC) token swap and rebranding to Polygon (POL)
We will support the Polygon (MATIC) token swap to Polygon (POL). Read this article for our timeline.
Bitvavo will stick to the following timeline for the swap:
- On the 2nd of September at 10:00 CEST, deposits for Polygon (MATIC) will be closed.
- On the 2nd of September at 10:00 CEST, buying and selling for Polygon (MATIC) will be halted.
- On the 3rd of September at 10:00 CEST, withdrawals for Polygon (MATIC) will be closed.
- On the 10th of September, or earlier, Polygon (MATIC) will be converted to Polygon (POL) at a conversion rate of 1 MATIC = 1 POL.Ā
- Bitvavo plans to support trading, deposits, and withdrawals for Polygon (POL) on or around September 10th.
What do you have to do?
Bitvavo will automatically swap your Polygon (MATIC) for Polygon (POL). After the swap, Polygon (MATIC) will be closed indefinitely.Ā Ā
About the upgrade from MATIC to POL
POL is an upgrade driven by their community. As Polygon transitions into an aggregated blockchain network, the community recognized the need for a token with expanded utility. Consequently, POL has been introduced as an upgraded and rebranded version of MATIC, set to replace MATIC on a one-to-one basis. Although MATIC will still be available, it will primarily function as a wrapper token for POL.Ā Read more about this swap.