The upcoming token migration from MATIC to POL marks a pivotal evolution in the Polygon ecosystem. As part of this transition, OKX will fully support the migration process, ensuring users can seamlessly convert their holdings and continue trading, staking, and managing assets with minimal disruption. This article outlines the complete timeline, key actions required, and what users need to know about the MATIC-to-POL upgrade on OKX.
Understanding the MATIC to POL Migration
Polygon’s official roadmap confirms that the MATIC token will be upgraded to POL as part of its new AggLayer scaling solution. This rebranding reflects a broader vision for interoperability and enhanced Layer 2 performance across Ethereum. The migration is scheduled to begin in early September 2024, with multiple phases across deposit, withdrawal, trading, and staking functions.
For users holding MATIC on OKX or planning to interact with Polygon’s upgraded network, understanding the timeline and platform-specific changes is essential.
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Deposit and Withdrawal Schedule
To ensure a smooth transition, OKX has established a clear schedule for suspending MATIC operations and enabling POL support across both the Polygon PoS network and Ethereum Mainnet (ERC20).
Key Dates:
August 30, 2024 – 12:00 AM BRT
- MATIC deposits and withdrawals on the Polygon PoS Network will be suspended.
- After token conversion completes, MATIC will no longer be supported on this chain.
September 9, 2024 – 6:00 PM BRT
- MATIC deposits and withdrawals on the Ethereum Mainnet (ERC20) will be disabled permanently.
September 2, 2024 – 11:00 PM BRT
- POL deposits open on Ethereum Mainnet (ERC20).
September 4, 2024 – 11:00 AM BRT
- POL withdrawals open on Ethereum Mainnet (ERC20).
September 4, 2024 – 10:00 AM BRT
- POL deposits open on Polygon PoS.
- Withdrawal availability for POL on Polygon PoS will be announced separately.
👉 Stay ahead of major crypto upgrades — monitor real-time migration alerts and updates.
Trading Instruments Update
OKX will adjust its spot and margin trading services to align with the transition from MATIC to POL.
Spot Trading
September 4, 2024 – 10:00 AM BRT
- Trading pairs POL/USDT and POL/USDC will go live.
September 7, 2024 – 5:00 AM BRT
The following pairs will be delisted:
- MATIC/USDT
- MATIC/USDC
- MATIC/EUR
- All open orders related to these pairs will be automatically canceled.
- Trading bots using these pairs will be stopped, and any active positions liquidated at market price at delisting time.
⚠️ Users are strongly advised to cancel open orders before September 7, 2024, to avoid unintended execution during the transition.
Margin Trading Adjustments
Margin traders should note two critical changes:
August 29, 2024 – 12:00 AM BRT
- MATIC borrowing functionality will be disabled.
September 3, 2024 – 5:00 AM BRT
A discount adjustment will be applied to MATIC collateral. After this date:
- All discount levels for MATIC will be set to 0, meaning it will no longer provide margin benefits.
- This change reflects the token’s phase-out ahead of full migration.
Token Migration Process
OKX will handle the automatic conversion of eligible MATIC balances to POL at a 1:1 ratio, based on a snapshot taken on September 9, 2024, at 7:00 AM BRT.
What You Need to Know:
- Any MATIC assets in your trading account will be transferred to your funding account prior to the snapshot.
- Only successfully deposited tokens before the snapshot time will be included. Tokens in transit (pending withdrawals or deposits) will not qualify.
- MATIC held in sub-accounts will be converted to POL and moved to the main account after migration.
- Balances below 1 MATIC will not be migrated due to technical and cost considerations.
👉 Secure your assets before major network shifts — access tools for tracking token migrations.
On-Chain Staking (Earn) Updates
Users participating in OKX’s on-chain staking (Earn) program must also prepare for changes:
- Starting September 4, 2024, subscriptions and redemptions for MATIC staking will be paused.
- All staked MATIC positions will be automatically converted to POL.
- The migration is expected to complete by September 7, 2024.
- During this period, staking rewards will continue to accrue normally and be distributed after conversion.
- Once migration finishes, POL staking will reopen on the Earn platform.
This ensures continuity of yield generation without interruption during the network upgrade.
Frequently Asked Questions (FAQ)
Q1: What happens to my MATIC if I don’t take any action?
If your MATIC is held in your OKX funding or trading account before the snapshot (September 9), it will be automatically converted to POL at a 1:1 ratio. No action is required for eligible balances.
Q2: Can I still withdraw MATIC after September 9?
No. Withdrawals of MATIC on both ERC20 and Polygon PoS networks will be permanently disabled after their respective cutoff dates. After migration, only POL withdrawals will be supported.
Q3: Will the value of my holdings change during the swap?
The conversion is strictly 1:1, so your token quantity remains unchanged. However, market prices for POL may differ from previous MATIC valuations due to new utility and ecosystem developments.
Q4: Why are balances under 1 MATIC excluded?
Due to gas costs and technical constraints in batch processing, very small balances are excluded to ensure efficient and secure migration.
Q5: When can I start trading POL?
Spot trading for POL/USDT and POL/USDC opens on September 4, 2024, at 10:00 AM BRT. You can begin trading immediately once the market goes live.
Q6: Is POL a new token or just a rebrand?
While POL replaces MATIC as the native token of the upgraded Polygon ecosystem, it represents more than a name change—it’s central to the new AggLayer architecture enabling unified liquidity and cross-chain interoperability.
Final Notes & Risk Reminder
The information provided here is based on current plans from OKX and Polygon. While every effort is made to ensure accuracy, timelines and procedures may change due to technical or operational factors. Always verify updates through official channels.
Digital assets are highly volatile and speculative. Prices can fluctuate dramatically, and investors may lose their entire investment. OKX does not provide financial advice, and all decisions should be made after personal research and risk assessment.
For further assistance, users are encouraged to contact OKX Support directly through the platform.
👉 Get ready for the next phase of scalable blockchain — stay informed on major token transitions.