#MyFirstSquarePost Hello, Binance Square

Save the Date: MATIC → POL Migration Coming September 4th

The much-anticipated upgrade from MATIC to POL is set to take place on September 4th. This marks a significant milestone for the Polygon ecosystem. Here’s everything you need to know about this exciting transition.

What is the POL upgrade?

POL is a community-driven upgrade proposed to enhance the utility of Polygon’s native token, MATIC. The transition from $MATIC to $POL aims to reflect and power Polygon’s vision as an ever-growing network of aggregated blockchains. POL, described as a hyperproductive token, will provide valuable services across the Polygon network, including the AggLayer.

How will the migration process work?

Starting September 4th, POL will replace MATIC as the native gas and staking token on the Polygon PoS network. For holders of MATIC on Polygon PoS, no action is required; the upgrade will be automatic. However, holders of MATIC on Ethereum, Polygon zkEVM, and centralized exchanges (CEXes) may need to migrate their tokens manually. A migration contract deployed on Ethereum will allow for a permissionless upgrade from MATIC to POL.

What happens to #MATIC holders?

• Polygon PoS: No action required; MATIC will automatically convert to POL.

• Ethereum, Polygon zkEVM, CEXes: Manual migration may be needed. MATIC holders can use the migration contract on Ethereum to upgrade their tokens.

Is this move beneficial to the Polygon Ecosystem?

Absolutely. The POL upgrade expands the utility of Polygon’s native token, ensuring it can support the network’s growth and security. In the long term, POL is expected to play a broader role in the Polygon staking hub, including block generation, zero-knowledge proof generation, and participation in Data Availability Committees (DACs).

Mark your calendars for September 4th and get ready for a seamless transition to $POL, a token designed to drive the future of the Polygon network.