Here's What MATIC Holders Need to Do as Polygon's Upgrade to POL Is Now Days Away

MATIC holders will need to take specific actions depending on where their tokens are held in relation to the upcoming migration to POL, which is now only days away

MATIC holders, the highly anticipated migration to POL is now just days away, scheduled for September 4, 2024. Here's a quick rundown of the actions MATIC holders need to take, depending on where their tokens are held.

For MATIC holders on the Polygon PoS chain, you can rest easy. Your tokens will automatically convert to POL without any further action required from your end. This seamless transition ensures that you can continue engaging with the network without any disruption.

Now, let's talk about MATIC holders on Ethereum. You have a couple of options to choose from. You can upgrade your MATIC to POL using a migration contract that has already been deployed, allowing for a permissionless upgrade at your convenience. Alternatively, if you prefer not to interact directly with the migration contract, you can utilize decentralized exchange (DEX) aggregators like 1inch or Kyber, which have integrated the migration process.

For those holding MATIC on Polygon zkEVM, there are two paths forward. You can either bridge your MATIC tokens from zkEVM to Ethereum and then use the migration contract to upgrade to POL. Another option is to swap your MATIC for POL directly on a zkEVM-based DEX or aggregator.

Finally, for MATIC holders on centralized exchanges (CEXs), you can expect most major exchanges to handle the migration automatically. For example, if you hold MATIC on Coinbase, you don't have to take any action. However, it's always a good idea to check the specific guidance provided by your exchange to confirm the process.

It's also worth noting that MATIC stakers and delegators on Ethereum will see their staked tokens automatically converted to POL, and staking rewards will continue to be distributed without any disruption.

In the coming days, keep an eye on Polygon's official X account, where they are expected to announce more details about the migration.

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