Binance to Support Polygon (MATIC) Swap to Polygon (POL) Token

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withdrawn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.

Image
source:
Shutterstock