On September 4th, MATIC was officially rebranded and replaced by the new token POL. In this article, we’ll explain what you should do if you still hold MATIC and how to convert it to POL.
As of September 13, MATIC’s market capitalization stood at over $2.96 billion according to Coinmarketcap, making it the 28th largest crypto project. The Polygon network has seen over 450 million unique addresses since launching in 2020, with daily transaction volumes at around 2.9 million, according to Polygonscan.
If your MATIC is on the Polygon network, you do not need to do anything—the Polygon team has stated that all MATIC will be converted to POL automatically, with no loss of value.
1. MATIC on an Exchange
In reality, you don’t need to do anything, as exchanges will automatically swap your tokens. Here’s what major exchanges are doing:
Binance: The exchange will automatically swap MATIC tokens for POL. You can read their full statement at this link. Our team does not recommend using Binance if you still do. For recommendations on which exchange to use, see our article.
1.1. Connect your Ledger, go to the website, and connect your wallet. Choose everything as shown in the screenshots below. If Ledger doesn’t appear, click “View All.”
1.2. In Ledger Live, select the account holding your assets (this will be an Ethereum account), and click “Connect.”
1.3. Go back to the website, choose “Max,” check that you have enough ETH to pay gas fees, and start the swap.
1.4. Confirm the transaction on your Ledger. Done.
3.2. On the Polygon/Matic site, click “WalletConnection” and scan the QR code with your TrustWallet.
3.3. Click “Connect,” connect your wallet, and repeat the steps to swap your coins.
That’s it! We’ve covered the main ways to convert your MATIC without losing your tokens. Note: you have 2 years to complete the swap. If you have questions or can’t swap MATIC for POL on your own, contact us for help — t.me/saf_smm.