Polygon’s migration from MATIC to POL is a cornerstone match within the Polygon 2.0 roadmap. The assist aims to toughen network efficiency and suppleness. However as a MATIC holder, what procure it’s possible you’ll per chance also wish to procure? In this manual, you are going to be taught to switch MATIC to POL, whether or no longer your tokens are on the Polygon PoS, Ethereum, or the zkEVM network.
switch MATIC to POL
Transferring or upgrading MATIC to POL varies looking out on which network your tokens are held. Here’s a rapid breakdown:
- On Polygon PoS: The switch happens robotically, and your MATIC will be upgraded to POL with out any further steps. However, it’s possible you’ll per chance also wish to swap the token image manually.
- On Ethereum or zkEVM, you are going to wish to manually migrate MATIC to POL by the Polygon Portal Interface. In some cases, bridging can be required.
We will duvet these and further migration eventualities within the next sections.
MATIC on Polygon PoS
If your MATIC tokens are on the Polygon PoS (which is more fancy a layer-2 on Ethereum), the migration or switch to the POL ticker will happen robotically. You procure no longer wish to take any manual steps to relief.
However, after the migration, your pockets can also merely quiet prove “MATIC” rather then “POL.” If this persists, right here’s what to procure:
- Test the pockets settings and navigate to the Polygon mainnet.
- Once there, click the “three dots” button to receive entry to “settings”.
- When the Settings dashboard opens, hit “Networks,” and it’s possible you’ll per chance also discover the final relevant “Polygon Mainnet” particulars there. It is advisable to perhaps per chance investigate cross-check how the speedy ticker is exhibiting as POL.
- It is advisable to perhaps per chance click on POL, and after a whereas, the MATIC ticker will swap to POL.
This route of will be particular that that you simply’re accurately viewing your upgraded POL.
MATIC on Ethereum
If your MATIC is held on the Ethereum network, you are going to wish to manually migrate your tokens to POL by the Polygon Portal Interface.
Here are the associated steps:
- Head over to the Polygon portal.
- Hit “Hop On” when requested to relief MATIC to POL.
- Ensure that the pockets is connected and the Ethereum mainnet is chosen.
- Pick the amount of MATIC tokens you desire to switch or relief.
- Test the gasoline prices, approve the transaction, and await the assist to happen.
After approval, click “Upgrade” to swap your MATIC tokens for POL tokens on a 1:1 basis. Verify the “Upgrade” transaction in your pockets.
Once the transaction is total, you’ll investigate cross-check the POL tokens in your pockets. If the tokens don’t appear, it’s possible you’ll per chance also wish to manually add the POL contract tackle.
MATIC on Polygon zkEVM
If your MATIC tokens are on Polygon zkEVM, you’ll wish to bridge them to Ethereum sooner than migrating them to POL.
Here are the associated steps:
- Use a bridge fancy Polygon Bridge to switch your MATIC from zkEVM to the Ethereum network.
- Pick zkEVM as the supply network and Ethereum as the destination network, then approve the bridging route of.
Once the MATIC tokens are on Ethereum, conform to the identical steps as described above emigrate MATIC to Ethereum.
Are you able to without extend pass MATIC from zkEVM to Polygon PoS?
Why pass MATIC to Ethereum ought to it’s possible you’ll per chance also merely migrate MATIC to Polygon PoS without extend? In short, the legitimate migration date for automatic PoS-driven upgrades modified into as soon as role for Sep. 4, 2024. If automatic upgrades had been quiet underway, this would role off your MATIC to relief to POL robotically. The approach now has a number of more further steps following the passing of that closing date.
Other migration eventualities
Moreover Polygon PoS, Ethereum, and zkEVM, other migration contexts consist of centralized exchanges (CEXs), easy contracts, and liquid staking suppliers.
CEXs: Users maintaining MATIC on exchanges fancy Coinbase or Binance can also merely no longer wish to take any action, as the exchanges most incessantly take care of the migration on their behalf. Users must check for substitute-explicit updates.
Tidy contracts: MATIC tokens held in easy contracts on Polygon PoS will robotically relief, whereas these on Ethereum or zkEVM will require manual migration or contract updates.
Liquid staking suppliers: Some liquid staking functions can also merely temporarily conclude operations across the assist. Staked tokens will relief robotically.
What happens ought to you procure no longer migrate?
In the occasion you relief MATIC and don’t migrate it to POL, it’s possible you’ll per chance also lose receive entry to to fundamental functions within the route of the Polygon ecosystem. These functions consist of paying for staking and gasoline. Now now not migrating MATIC to POL on Ethereum and zkEVM can consequence in a loss in staking rewards.
The role of POL beyond the assist
Whereas the purpose of curiosity at the moment is to switch MATIC to POL, as a ticker swap initiative, it’s possible you’ll per chance also demand POL to abet a vital elevated role within the future. The token will play a role in securing Polygon’s Aggregation Layer and supporting interoperability. Plus, the unique token will also play a half in Polygon’s upcoming staking hub, role to open in 2025. Therefore, it’s possible you’ll per chance also merely quiet switch MATIC to POL as promptly as that it’s possible you’ll per chance also deem of.
