In a key update for Polygon (POL) users, major cryptocurrency exchange Binance has announced that it will temporarily suspend token deposits and withdrawals on the Polygon (POL) network as part of a scheduled network upgrade.
According to Binance, the suspension will take place on July 1, as the Polygon network undergoes a key upgrade aimed at improving performance and scalability.
According to an official notice, starting on July 1 at about 8:10 a.m. (UTC), Binance will suspend token deposits and withdrawals on the Polygon (POL) network to support its network upgrade and hard fork to ensure the best user experience.
A new version of Bor, v2.1.1, has been released, scheduling the Bhilai Hard Fork for the Polygon mainnet.
The Bhilai hard fork on mainnet is scheduled for block 73440256, which is expected to be mined on July 1, 2025, at 9:10 a.m. UTC (2:40 PM IST). The trading of tokens on the Polygon network will, however, not be impacted during the upgrade, as Binance will handle all technical requirements involved for users.
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Deposits and withdrawals for tokens on the Polygon network will be reopened after the updated network has been determined to be stable. However, no additional announcements may be placed.
Binance to add new USDC trading pairs
Simultaneously, on this date, Binance would be listing two new USDC trading pairs.
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In a separate announcement, Binance stated it will launch trading for the LPT/USDC and RVN/USDC trading pairs on July 1 at 8:00 a.m. (UTC), expanding the variety of trading options available on Binance Spot and improving users' trading experiences.
In addition, Binance will launch trading bot services for the following pairs on July 1 at 8:00 a.m. (UTC), which are spot algo orders: LPT/USDC, RVN/USDC, spot grid and DCA: ARB/USDC.
