Saltık Cryptocurrency exchange Binance has shared an important announcement for Polygon (MATIC) token holders. Binance’s announcement is as follows:
“Dear Binance users,
Binance will support the conversion of Polygon (MATIC) tokens to Polygon (POL) tokens.
MATIC Trading Pairs Will Be Delisted and New POL Pairs Will Be Opened
As of 03:00 (UTC) on 2024-09-10, Binance will delisted all existing MATIC spot trading pairs (e.g. MATIC/BNB, MATIC/BRL, MATIC/BTC, MATIC/ETH, MATIC/EUR, MATIC/FDUSD, MATIC/JPY, MATIC/TRY, MATIC/USDC and MATIC/USDT) and cancel all pending MATIC spot trading orders. The new POL trading pairs (POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC and POL/USDT) will start trading on 2024-09-13 at 10:00 (UTC).
Deposits and Withdrawals
As of 2024-09-10 at 03:30 (UTC), deposits and withdrawals of MATIC tokens will be suspended. Please make sure that your MATIC token deposits are fully processed before this date and time.
After the event is completed, Binance will make a separate announcement regarding when deposits and withdrawals of POL tokens will be opened. Withdrawals of MATIC tokens will not be supported after this event. Binance will meet all technical requirements for users participating in this event.
Token Exchange and New Trading Pairs
Binance will exchange MATIC tokens for POL tokens at a rate of 1 MATIC = 1 POL. After this exchange, all MATIC tokens will be traded as POL tokens.
Futures and Margin Trading
Binance Futures will close MATIC futures and perform an automatic settlement on 2024-09-04. Users are warned to close their open positions before the delisting process.
Similarly, Binance Margin Trading will remove MATIC pairs from both cross and isolated margin trading on 2024-09-05. Users are encouraged to close their positions and transfer their assets to Spot Wallet before this date.
Other Services
Binance will also be making changes to Binance Credit, Simple Earn, Dual Investment, and other services related to MATIC starting on 2024-09-04. Users are warned to take necessary actions before the relevant dates to avoid being affected by these changes.
Binance Pay and Binance Gift Card services will also stop supporting MATIC tokens. Gift cards containing MATIC tokens will be automatically converted to POL tokens starting 2024-09-10.
Binance Team”
Might interest you: Bitcoin Runes Recorded 15.6 Million NFT Transactions in 4 Months
Click on the link to register with Binance with a commission discount.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.