Official announcements from exchanges or major cryptocurrency news outlets

Polygon Completes 70% Migration of 7 Billion MATIC to POL

Sep 13, 2024, 08:16 AM

Polygon has successfully transitioned its native token from MATIC to POL, which now serves as the gas and staking token for Polygon's ecosystem. The migration process has been automatic for most holders, with a 1:1 reissue ratio from MATIC to POL. Over 7 billion MATIC tokens, approximately 70% of the total supply, have already been upgraded to POL, including 1 billion in the past 24 hours and 6.4 billion in total. Major exchanges such as Binance, Coinbase, KuCoin, HTX, and others have completed the token swap and resumed trading for POL. gTrade has retired the MATIC ticker and opened trading for POL. This transition is seen as a significant step towards a more interconnected and efficient Polygon ecosystem.