Crypto.com Is Supporting the Polygon (MATIC) to Polygon Ecosystem Token (POL) Migration

MATIC tokens have been reissued as POL tokens on the Crypto.com App and Exchange in a 1:1 ratio

Update as of 12 September 2024: 

Please be informed that Crypto.com has completed the Polygon (MATIC) to Polygon Ecosystem Token (POL) migration. 

Existing MATIC tokens have been converted to POL tokens in a 1:1 (MATIC to POL) ratio according to the MATIC balances in eligible users’ Crypto Wallet in the Crypto.com App and Spot Wallet in the Crypto.com Exchange at the time of delisting. 

Trade POL on the Crypto.com App and Exchange now. 

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Please be informed that Crypto.com is supporting the Polygon (MATIC) to Polygon Ecosystem Token (POL) migration. As a result, trading, deposits and withdrawals of MATIC on the Crypto.com App and Crypto.com Exchange will be permanently suspended from 10 September 2024 at 01:00 (UTC) and 02:00 (UTC) respectively. 

Existing MATIC tokens will be converted to POL tokens at a later date, in a 1:1 (MATIC to POL) ratio according to the MATIC balances in eligible users’ Crypto Wallet in the Crypto.com App and Wallet in the Crypto.com Exchange at the time of the delisting.

Crypto.com App

Target Price orders, TWAP orders and Recurring Buys 

MATIC Target Price orders, TWAP orders, and Recurring Buys will be automatically terminated.

Crypto Earn and Staking 

For more information, please see here. 

Card Top-Up

MATIC will no longer be available for Card Top-Ups after 10 September 2024 at 01:00 UTC. MATIC as an auto top-up method will also be disabled.

Pay

POL will replace MATIC as a payment currency for merchants using Crypto.com Pay. 

Prime Margin

MATIC will no longer be supported in Prime Margin Wallet. Users will be unable to transfer MATIC into their Prime Margin wallets and trading of MATIC/USD will be suspended. 

MATIC will no longer be eligible as collateral on the day, this may impact the collateral balance in your Margin Wallet, users are advised to review positions and collateral requirements, and make any necessary adjustments as soon as possible to avoid liquidation.

MATIC remaining in Margin Wallets will be automatically migrated to POL at a later date and transferred out to your Crypto Wallet.

Crypto.com Exchange

On 4 September 2024, 08:00 UTC:

Perpetual Contract

The MATICUSD-PERP Perpetual contract will be delisted from the Crypto.com Exchange on 4 September 2024, 08:00 UTC. Kindly take the necessary steps to close your position(s) for the contract above before it is delisted.

Any open positions after the aforementioned date and time will be automatically settled* against the TWAP.

*Note: Taker fees will be charged for any automatic settlements 

On 10 September 2024, 02:00 (UTC):

Spot Trading and Trading Bot 

Open MATIC Spot trading orders and trading bot orders will be terminated. Users are advised to terminate trading bots which include MATIC (if any) to prevent disruption in trading. 

Margin Trading 

Please review any open MATIC short positions and close them before 10 September 2024, 02:00 UTC. Any open MATIC short positions after this date will be automatically closed at market price. Note: Taker fees will be charged for position closure. 

MATIC will no longer be eligible as collateral after 10 September 2024, 02:00 UTC. As this may impact your account margin balances, you are advised to review any open Margin and Derivatives positions, if any, and make any necessary adjustments as soon as possible to avoid liquidation of any open positions during the migration. 

A separate announcement will be made when the token migration is complete and when POL deposits and withdrawals on the Polygon network are enabled. Please note that deposits and withdrawals of Polygon PoS native tokens (POL) will retain the MATIC ticker within Crypto.com App and Exchange until further notice.

If you have questions or concerns, kindly contact us at chat.crypto.com.