The planned upgrade of the native token on the Polygon ecosystem from MATIC to POL represents a significant step forward. This guide provides clear, actionable information for all MATIC holders across different networks, ensuring a smooth transition.
Understanding the MATIC to POL Upgrade
The transition to POL is designed to power a new era of scalability and interoperability within the expanding Polygon network. This upgrade is a key part of the Polygon 2.0 vision, which aims to create a seamless ecosystem of interconnected chains. The process varies depending on where you currently hold your MATIC tokens.
For MATIC Holders on Polygon PoS
If your MATIC tokens are on the Polygon Proof-of-Stake (PoS) chain, the process is straightforward.
No Action Required
The most important point for you is that no action is needed. The upgrade will happen automatically at the protocol level. On September 4, 2024, all MATIC tokens on the Polygon PoS chain will be seamlessly migrated to POL tokens.
Important Wallet Consideration
While the underlying asset changes, your wallet's user interface might not update instantly.
- Note: If you do not update the RPC settings in your wallet (such as MetaMask, Rabby, or Zerion), the wallet may continue to display the token symbol as "MATIC" instead of "POL" for the native gas token. This is purely a visual discrepancy; your holdings will be POL.
For MATIC Holders on Ethereum Mainnet
If your MATIC tokens are stored on the Ethereum mainnet, you will need to initiate the upgrade to POL yourself. You have two primary methods to do this.
Method 1: Using the Official Migration Contract
The most direct way to upgrade your tokens is by interacting with the official migration contract deployed on the Ethereum blockchain.
- You will need to connect your Web3 wallet to the contract's interface.
- Always ensure you are using the correct and verified contract address. You can find this on official Polygon channels and verify it through Etherscan.
- This method gives you full control over the transaction and its associated gas fees.
Method 2: Using Integrated DEX Aggregators
For users who prefer a more streamlined, user-friendly interface or lack the technical confidence to interact directly with a smart contract, several third-party decentralized exchange (DEX) aggregators offer integration.
- Popular Options: Platforms like 1inch, Kyber, and CowSwap have independently integrated the migration contract.
- Crucial Precautions: If you choose this path, you must carefully review all terms and conditions. Perform your own due diligence to understand exactly how the upgrade process works on your chosen dApp.
- Important: When using a DEX aggregator, the upgrade from MATIC to POL is a direct interaction between you and that specific dApp. It is vital to explore more strategies for safe DeFi interactions before proceeding.
For MATIC Holders on zkEVM Mainnet
Holders of MATIC on the Polygon zkEVM network also have pathways to acquire POL tokens.
Option 1: Bridge to Ethereum and Migrate
One effective method is to transfer your tokens back to the Ethereum mainnet first.
- Use the official zkEVM bridge to move your MATIC tokens from the zkEVM network to Ethereum.
- Once your tokens are on Ethereum, you simply follow the instructions outlined above for "MATIC Holders on Ethereum Mainnet" to upgrade them to POL.
Option 2: Swap Directly on a zkEVM DEX
You may be able to complete the process without leaving the zkEVM environment.
- Seek out a reputable decentralized exchange (DEX) or DEX aggregator that operates natively on the Polygon zkEVM.
- On these platforms, you can perform a simple token swap, trading your MATIC tokens for POL directly. Always confirm you are using a legitimate and audited platform.
Frequently Asked Questions
Q: Do I need to do anything if my MATIC is on Polygon PoS?
A: No. The migration for Polygon PoS chain holders is automatic and requires no action from users. The change from MATIC to POL will occur at the protocol level on September 4, 2024.
Q: Why does my wallet still show MATIC after the upgrade?
A: This is likely a display issue. Your wallet application may need an update to its RPC settings to correctly display the new "POL" ticker symbol. Your actual tokens on the blockchain have been upgraded.
Q: Is it safe to use a DEX aggregator for the migration?
A: While many well-known aggregators are safe, you must always exercise caution. Only use reputable platforms, double-check all transaction details before signing, and understand that you are interacting with a third party, not the official Polygon migration interface directly.
Q: What is the main benefit of upgrading to POL?
A: POL is designed to be a hyperproductive token, enabling holders to secure multiple chains within the Polygon ecosystem and earn multiple rewards, paving the way for a unified and scalable Web3 network.
Q: Will my token amount change during the migration?
A: No. The upgrade is a 1:1 conversion. You will receive the same quantity of POL tokens as the MATIC tokens you submitted for migration.
Q: Is there a deadline to migrate my tokens from Ethereum?
A: While no hard deadline has been announced, it is always recommended to complete such upgrades in a timely manner once they are officially live to ensure access to all future ecosystem utilities and to view real-time tools for the latest updates.