According to the official Polygon migration plan, the MATIC cryptocurrency will undergo a migration to POL. OKX will fully support this transition with the following schedule:
Key Dates for MATIC to POL Migration
1. Deposit and Withdrawal Timeline
Polygon PoS Network:
- MATIC deposits/withdrawals suspended: August 30, 2024, at 03:00 UTC.
- Services will be permanently disabled post-migration.
ERC20 Mainnet:
- MATIC deposits/withdrawals suspended: September 9, 2024, at 21:00 UTC.
- POL deposits open: September 3, 2024, at 02:00 UTC.
- POL withdrawals open: September 4, 2024, at 14:00 UTC.
Polygon PoS for POL:
- Deposits open: September 4, 2024, at 13:00 UTC.
- Withdrawal schedule to be announced separately.
2. Trading Adjustments
Spot Trading
- New POL/USDT and POL/USDC pairs launch: September 4, 2024, at 13:00 UTC.
MATIC spot pairs (MATIC/USDT, MATIC/USDC, MATIC/EUR) delisted: September 7, 2024, at 08:00 UTC.
- All pending orders canceled automatically.
👉 Track real-time updates on trading pairs
- All pending orders canceled automatically.
Margin Trading
- MATIC loans discontinued: August 29, 2024, at 03:00 UTC.
Margin trading suspended: September 3, 2024, between 08:00–09:00 UTC.
- Force repayment triggered for unpaid loans post-delisting.
Discount Rate Adjustment (Effective September 3, 2024)
| Asset | Tier (USD) | Previous Discount | New Discount |
|---|---|---|---|
| MATIC | 0–1M | 0.8% | 0% |
| 1M–2M | 0.75% | - | |
| 2M–4M | 0.5% | - | |
| >4M | 0% | - |
Perpetual Futures
MATICUSDT futures delisted: September 9, 2024, at 08:00 UTC.
- Positions settled at arithmetic index price (07:00–08:00 UTC).
- Funding rate set to 0% at delisting.
3. Token Migration Process
Earn On-Chain:
- MATIC subscriptions/redemptions pause: September 4, 2024.
- Staked assets auto-converted to POL by September 7. Rewards distributed post-migration.
Snapshot & Conversion:
- User holdings snapshot: September 9, 2024, at 10:00 UTC.
1:1 MATIC-to-POL conversion for:
- Main account balances (≥1 MATIC).
- Excludes mid-transfer tokens or subaccounts (transferred post-migration).
FAQs
1. When will POL trading begin on OKX?
POL spot trading starts September 4, 2024, at 13:00 UTC.
2. What happens to my staked MATIC?
All staked MATIC will auto-convert to POL by September 7. Rewards accrue normally.
3. Are MATIC withdrawals possible after August 30?
No. Polygon PoS withdrawals permanently close August 30, 2024.
4. How is the futures delivery price calculated?
It’s based on the OKX index average between 07:00–08:00 UTC on delisting day.
5. Where can I find updates?
👉 Follow OKX’s official announcements for real-time details.
Risk Disclosure:
Digital assets are speculative and volatile. OKX does not guarantee investment outcomes. Review our Risk Disclosure for details.
OKX Team
August 29, 2024