BitMEX Delists MATICUSDT and MATIC/USDT Amid Polygon Migration

BitMEX
has
officially
delisted
the
MATICUSDT
and
MATIC/USDT
trading
pairs
as
of
September
3,
2024,
at
12:00
UTC.
This
move
comes
in
response
to
the
MATIC
to
POL
migration
on
the
Polygon
network,
according
to
a

BitMEX
Blog.

Delisting
Details
and
User
Guidance

All
positions
in
MATICUSDT
have
been
closed
out,
and
users
can
review
the
Settlement
History
on
the
BitMEX
website.
The
exchange
has
provided
detailed
information
regarding
the
delisting
process
in
their
Exchange
Guide.

BitMEX
has
urged
existing
MATIC
holders
to
withdraw
their
MATIC
(ERC-20)
tokens
from
their
BitMEX
wallets
promptly.
This
action
is
to
ensure
a
smooth
transition
and
avoid
any
complications
arising
from
the
MATIC
to
POL
migration.

Implications
of
the
MATIC
to
POL
Migration

The
MATIC
to
POL
migration
on
Polygon
has
significant
implications
for
users
and
exchanges
alike.
BitMEX
has
addressed
these
in
detail
on
their
blog,
where
users
can
find
comprehensive
information
on
how
the
migration
affects
their
holdings
and
what
steps
they
should
take
next.

Industry
Context

The
cryptocurrency
industry
has
seen
multiple
migrations
and
upgrades
across
different
networks,
reflecting
the
sector’s
evolving
nature.
The
Polygon
network’s
upgrade
from
MATIC
to
POL
aims
to
enhance
scalability
and
improve
the
overall
functionality
of
the
blockchain.

Similar
migrations
have
previously
occurred
in
the
industry,
such
as
Ethereum’s
transition
from
ETH
to
ETH2.0,
highlighting
the
importance
of
staying
updated
with
network
changes
to
ensure
asset
security
and
optimal
trading
opportunities.

For
more
detailed
information,
users
are
encouraged
to
refer
to
the
official
BitMEX
Blog.

Image
source:
Shutterstock