Important Upgrade: MATIC will soon be POL
MATIC is undergoing one of its most awaited upgrades. The MATIC token will soon be renamed POL as a part of this initiative. More details about this upgrade are mentioned below. Please go through the entire blog thoroughly for complete details.
The POL upgrade is a community-driven initiative proposed last year as a part of PIP-17. This proposal and Polygons shift to an aggregated blockchain network called for an upgraded token with enhanced utility, hence the decision to change MATIC to POL.
ZebPay will fully support this transition of MATIC to POL. The MATIC token will be delisted to support this upgrade, and the POL token will be listed back on the platform as per the dates below.
| Platform | Delisting date (MATIC) | Relisting date (POL) |
| QuickTrade | 9th September 2024, 8 PM, IST | 13th September 2024, 5 PM, IST |
| Exchange | 9th September 2024, 8 PM, IST | 13th September 2024, 5 PM, IST |
| Futures | 3rd September 2024, 2:30 pm IST | 14th September 2024 |
Details regarding CryptoPacks and Lending
- Trading of CryptoPacks which have the MATIC token will not be available between 9th September, 8 PM and 13th September, 5 PM. After 13th September 2024, 5 PM, the MATIC token in CryptoPacks will be renamed as POL and trading will resume.
- Lending contracts of MATIC will be closed on 9th September 2024, 8 PM, IST. Users who have active lending contracts of the MATIC token will receive interest up to this date which will be credited to their wallet. Lending services of the POL token will be available again from September 13th, 5 PM IST.
Important Points to Note
- If you have any MATIC holdings on QuickTrade, Exchange, or CryptoPacks, your MATIC holdings will automatically be swapped to the POL token in a 1:1 ratio by 13th September 2024, 5 PM, IST.
- If you have any open positions of the MATIC-INR pair on ZebPay Futures, you are required to close your positions on or before 3rd September 2024, by 2:30 pm IST.
- In case your MATIC-INR Futures positions are not closed before 3rd September 2024, by 2:30 pm IST, your positions will be auto-closed at the prevailing market price.
Rest assured, your funds and crypto assets are completely secure with us. If you have any questions regarding this change, you can contact us at help.zebpay.com by raising a ticket. Our customer support team will be happy to assist you and address your concerns.
Best regards,
Team ZebPay
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