Polygon (MATIC) to POL Token Swap: What You Need to Know

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The cryptocurrency ecosystem is constantly evolving, and one of the most significant upcoming changes involves Polygon's transition from the MATIC token to its new native token, POL. As part of this major upgrade, OKX will support the full migration process, ensuring a smooth experience for users holding MATIC across various services including deposits, withdrawals, trading, staking, and derivatives.

This comprehensive guide outlines everything you need to know about the MATIC to POL token swap, including key dates, platform adjustments, and actionable steps to protect your assets during the transition.

🔁 Understanding the MATIC to POL Migration

Polygon’s rebranding and technical upgrade involve replacing the current MATIC token with the new POL token at a 1:1 ratio. This change reflects Polygon’s expanded vision beyond a single blockchain into a modular ecosystem of interconnected chains.

For users, this means:

Core keywords: Polygon, MATIC, POL, token swap, blockchain upgrade, crypto migration, OKX, digital assets

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📅 Key Dates for MATIC and POL Support on OKX

To ensure seamless operations during the transition, OKX has established a detailed timeline across different product lines.

Deposit & Withdrawal Schedule

⚠️ Important: After these dates, any MATIC sent to OKX may not be credited due to discontinued network support.

💱 Trading Adjustments: From MATIC to POL

OKX is updating its trading pairs and margin systems in line with the token migration.

Spot Trading

All open orders on these pairs will be automatically canceled. Users are strongly advised to manually close positions or cancel pending orders before the deadline.

📌 Note: Associated strategy trading rules will also be terminated upon delisting. Open positions will be liquidated at market price.

Margin (Leveraged) Trading

Significant changes are scheduled for leveraged traders:

Additionally:

Perpetual Contracts

The MATICUSDT perpetual contract will be officially decommissioned:

After delisting:

❗ Risk Warning: Volatility may spike before delisting. Consider reducing leverage or closing positions early. In case of under-collateralized positions (liquidations), losses are first covered by the insurance fund. If insufficient, auto-deleveraging (ADL) will impact profitable counterparties starting from the highest gainers.

🔁 How the Token Swap Works on OKX

The actual conversion from MATIC to POL is an automated process managed by OKX.

For Regular Account Holders

For Staking (Earn) Users

Sub-account holders should note that POL tokens will be credited to the main account, not individual sub-accounts.

❓ Frequently Asked Questions (FAQ)

Q1: Do I need to manually convert my MATIC to POL?

No. If you hold MATIC on OKX during the September 9 snapshot, the conversion will happen automatically at a 1:1 ratio. No action is required unless you wish to withdraw before network suspension.

Q2: What happens if I send MATIC after deposits are disabled?

Deposits made after August 30 (Polygon network) or September 10 (ERC20 network) may result in permanent loss of funds. Always verify network compatibility before transferring.

Q3: Will POL have the same use cases as MATIC?

Yes. POL serves as the native token for the upgraded Polygon ecosystem, used for gas fees, staking, governance, and security across its modular chains.

Q4: Can I still trade MATIC after September 7?

No. All spot trading pairs involving MATIC will be delisted on September 7. Perpetual contracts end even earlier on September 4. Trade or withdraw accordingly.

Q5: Why is the MATIC discount rate being set to zero?

With MATIC being phased out as a tradable asset, it can no longer serve as reliable collateral. Setting the discount rate to zero removes it from margin calculations and prevents systemic risk.

Q6: Is there a risk of price volatility during the swap?

Yes. Token migrations often trigger market volatility. Use risk management tools like stop-losses and avoid over-leveraging during this period.

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Final Thoughts: Prepare Now for a Smooth Transition

The shift from MATIC to POL marks a pivotal moment in Polygon’s evolution toward a scalable, multi-chain future. While OKX handles much of the backend complexity, users still bear responsibility for timely actions—especially regarding withdrawals, margin exposure, and position management.

Key reminders:

By staying informed and proactive, you can navigate this upgrade safely and continue participating in one of Ethereum’s most influential Layer 2 ecosystems.

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