Crypto.com App and Exchange Support Polymath (POLY) Rebrand to Polymesh (POLYX)

Tokens to be merged 1:1 after 10 October 2022 at 6am UTC

In support of the Polymath (POLY) rebranding to Polymesh (POLYX), we will be delisting POLY on 10 October at 06:00 UTC in the Crypto.com App and Exchange.

See below for more details regarding the impact for Crypto.com App and Exchange users Crypto.com App.

Deposits and withdrawals will be suspended, and all balances of POLY by this date will be converted to POLYX in the ratio of 1 POLY : 1 POLYX. We will notify users again when the conversion is complete. 

Crypto.com Exchange 

Spot Trading

• Open positions will be closed after this date and all remaining POLY balances will be converted to POLY in the ratio of 1 POLY : 1 POLYX. 

Margin Trading

• New POLY Margin loans will be suspended with immediate effect. All outstanding POLY Margin loans and pending orders created previously will be cancelled after 10 October, 06:00 UTC.
• Remaining POLY funds in open positions and POLY balances in the user’s Margin Wallet after 10 October, 06:00 UTC will be moved to their Spot Wallet*, where it will be converted to POLYX in the ratio of 1 POLY: 1 POLYX.

Automated Trading Bots 

• Pending POLY orders that have not been executed from DCA and Grid Trading Bots on the Crypto.com Exchange will be canceled.

Important Notes:

• The token merge may be dilutive to POLY holders, depending on the relative prices of the tokens
• POLY tokens deposited into your Crypto Wallet in the Crypto.com App after 10 October at 06:00 UTC will not be credited. Please allow sufficient time for processing POLY deposits prior to this time
• Deposits and withdrawals of POLY will be suspended after 10 October at 06:00 UTC. POLY tokens deposited/withdrawn into/from your Crypto.com Exchange Spot and Margin Wallet after this date will not be accepted. Please allow sufficient time for processing POLY deposits/withdrawals prior to this time. 
• *The transfer of POLY from the user’s Margin Wallet to Spot Wallet after 10 October at 06:00 UTC might lead to liquidation if the Margin Score falls below the liquidation threshold because of insufficient collateral