The upcoming transition from MATIC to POL marks a pivotal evolution in the Polygon ecosystem. As outlined in Polygon’s official roadmap, the MATIC token is being upgraded and rebranded as POL as part of a broader network transformation set for September 2024. In alignment with this major upgrade, OKX will fully support the MATIC to POL token migration across its platform, ensuring a seamless experience for users during this critical transition.
This article provides a detailed breakdown of OKX’s migration schedule, including deposit and withdrawal timelines, trading adjustments, staking implications, and important risk considerations. Whether you’re an active trader, staker, or long-term holder, understanding these changes is essential to safeguard your assets and optimize your participation in the new Polygon era.
Core Keywords
- MATIC to POL migration
- OKX token upgrade support
- Polygon network upgrade 2025
- POL token listing on exchange
- MATIC staking to POL conversion
- Crypto token migration process
- Polygon PoS to POL transition
- ERC20 token swap
Deposit and Withdrawal Schedule
To facilitate a smooth transition, OKX has established a clear timeline for MATIC and POL deposits and withdrawals across both the Polygon PoS and Ethereum ERC20 networks.
👉 Discover how to prepare your wallet for the MATIC to POL swap before it's too late.
MATIC Deposits & Withdrawals
Polygon PoS Network:
- MATIC deposits and withdrawals will be suspended at 10:00 AM on August 30, 2024 (Vietnam Time).
- These functions will be permanently discontinued after the migration concludes.
Ethereum ERC20 Network:
- MATIC deposits and withdrawals will halt at 4:00 PM on September 9, 2024 (Vietnam Time).
- No further support will be provided post-migration.
POL Deposits & Withdrawals
ERC20 Network:
- POL deposits open at 9:00 AM on September 3, 2024.
- POL withdrawals begin at 9:00 PM on September 4, 2024.
Polygon PoS Network:
- POL deposits will be available starting 8:00 PM on September 4, 2024.
- The withdrawal schedule for POL on Polygon PoS will be announced separately.
Ensure all transfers are completed before the cutoff times to avoid delays or potential loss of access during the network upgrade.
Trading Adjustments on OKX
As part of the migration, OKX will implement changes across its spot, margin, and futures trading platforms to reflect the transition from MATIC to POL.
Spot Trading Updates
- POL Trading Pairs Launch:
Spot trading for POL/USDT and POL/USDC will go live at 8:00 PM on September 4, 2024 (Vietnam Time). MATIC Trading Delisting:
- The following pairs will be delisted: MATIC/USDT, MATIC/USDC, and MATIC/EUR.
- All related orders will be terminated at 3:00 PM on September 7, 2024.
- Users must cancel open orders before this time. Any remaining orders will be automatically canceled by the system.
⚠️ Important Note: At delisting, all bot-trading orders for affected pairs will be canceled, and associated bots will be disabled. Any open positions will be closed at market price.
Margin Trading Changes
To maintain platform stability during the transition:
- MATIC Borrowing Disabled:
The ability to borrow MATIC will cease at 10:00 AM on August 29, 2024. - Temporary Suspension:
Margin and flexible lending services will be paused from 3:00 PM to 4:00 PM on September 3, 2024. All pending margin orders will be canceled during this window. - Loan Repayment Deadline:
All outstanding MATIC loans must be repaid by 3:00 PM on September 3, 2024. Failure to do so may trigger forced liquidation upon delisting. - Token Price Adjustment:
A price adjustment for MATIC will occur at 3:00 PM on September 3, 2024, affecting collateral valuations.
Perpetual Futures Contracts
- The MATICUSDT perpetual futures contract will be delisted at 3:00 PM on September 9, 2024.
- All open positions will be settled using the average index price from 2:00 PM to 3:00 PM (Vietnam Time) on that day.
- If abnormal price movements occur before delisting, OKX reserves the right to adjust the final settlement price to a fair market value.
- The funding rate at delisting time will be set to 0%, meaning no funding fee will be applied in the final settlement.
- Given potential market volatility, users are strongly advised to reduce leverage or close positions in advance.
Token Migration Process
The migration from MATIC to POL is designed to be automatic for users holding tokens on OKX, but certain conditions apply.
On-chain Earn (Staking) Transition
- Staking activities and MATIC withdrawals from On-chain Earn will pause starting September 4, 2024.
- All staked MATIC will be automatically converted to POL beginning September 4, with completion expected by September 7.
- Earnings will continue to accrue during the migration period and be distributed once POL staking resumes.
- POL staking services will restart after the full transition is finalized.
Account Snapshot & Conversion
- At 5:00 PM on September 9, 2024 (Vietnam Time), OKX will take a snapshot of all user balances in Funding accounts.
- MATIC holdings will be converted to POL at a 1:1 ratio.
- Assets in trading accounts will be transferred to Funding accounts prior to the snapshot.
- Unsuccessful or pending deposits/withdrawals at snapshot time will not be included in the conversion.
- Tokens held in sub-accounts will be converted and moved to the main account after migration.
- Balances below 1 MATIC will not be eligible for conversion.
👉 Secure your position now—ensure your MATIC is ready for automatic upgrade to POL.
Frequently Asked Questions (FAQ)
Q: What is the difference between MATIC and POL?
A: POL is the new utility and governance token of the upgraded Polygon network, replacing MATIC as part of a broader ecosystem evolution focused on scalability and interoperability.
Q: Do I need to manually convert my MATIC to POL on OKX?
A: No. If you hold MATIC in your OKX Funding or trading account, the conversion to POL will happen automatically based on the snapshot.
Q: Will my staked MATIC be converted to staked POL?
A: Yes. All staked MATIC in On-chain Earn will be converted to POL. Staking rewards will continue accruing and be distributed after the upgrade.
Q: What happens if I don’t withdraw my MATIC before the deadline?
A: As long as your MATIC is in your OKX account before suspension times, it will be included in the migration. However, transfers initiated but not confirmed by the snapshot time will not qualify.
Q: Is there a risk of losing funds during this migration?
A: OKX ensures a secure and automated process. However, always verify official announcements and avoid sending tokens to incorrect networks during transitions.
Q: Can I still trade MATIC after September 7, 2024?
A: No. Spot trading pairs involving MATIC will be delisted on September 7, and futures contracts will end on September 9. Only POL trading will remain active afterward.
Risk Disclaimer
The information provided here is for general guidance only and may include third-party data. OKX does not guarantee accuracy or completeness and does not offer financial or investment advice. Digital assets are highly speculative and volatile—liquidity may decrease suddenly, and you could lose your entire investment. Always conduct independent research and assess your risk tolerance before trading. Refer to OKX’s Terms of Service and Risk Disclosure for more details.
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