MATIC → POL Migration Effective September 4th, 2024
We want to inform you of an important change regarding the upcoming migration of the Polygon network from MATIC to the new POL token.
As per the recent announcement by Polygon (read the official announcement here), this migration will affect all chains that support the MATIC token on Polygon, Ethereum, and Polygon zkEVM.
Here's what you need to know about how this change impacts your integration with Transak.
🔄 Migration Overview:
🗓️ Migration Date: Starting September 4th, 2024, MATIC will be replaced by POL as the native gas token on the Polygon network.
↪️Automatic Conversion: For MATIC holders on the Polygon network, your MATIC will automatically convert to POL at a 1:1 ratio. No action is required from MATIC holders.
🤝Transak's Integration: Since we currently list MATIC on the Polygon chain only, the changes will apply specifically to the Polygon network.
📅 On-Ramp Timeline:
| Timeline | Description | Action Required |
|---|---|---|
| 4th Sep 2024, 12 PM UTC | POL token will be listed on Transak. | Prepare for the transition as mentioned below for seamless migration. |
| 4th Sep 2024 – 4th Oct 2024, 11:59 PM UTC | Only POL tokens will be supported from 4th Sep.(query params support will be there for MATIC till 4th Oct). | **Users can place orders for both MATIC and POL tokens. However, from September 4th onwards, MATIC will be discontinued, and all orders will be fulfilled with POL on the Polygon on-chain. |
| 4th Oct 2024, 12 PM UTC | MATIC will be delisted | Partners should transition to the POL token before 4th Oct 2024.Integrations should be completed by then to change the query params, APIs, webhooks and websockets from MATIC to POL in cryptoCurrencyList, cryptoCurrencyCode and defaultCryptoCurrency |
📅 Off-Ramp Timeline:
| Timeline | Description |
|---|---|
| 4th Sep 2024, 12 PM UTC | We support POLfor off-ramp effective from Sep 4th, 2024. and MATIC token will no longer be supported. |
We are committed to ensuring a smooth transition and are here to support you during this change. Please reach out to your Transak account manager if you have any questions or need further assistance.
Thank you for your continued partnership! 😊