MATIC to POL: Everything you need to know about the Polygon upgrade

The next major upgrade of the Polygon ecosystem is scheduled for September and aims to provide a scalable, unified, and globally accessible blockchain technology. This upgrade will also include the migration of the current MATIC token to POL.

Below, we’ve answered everything you need to know about the upcoming Polygon upgrade:

When will the migration from MATIC to POL take place?

The migration from MATIC to POL will take place on September 4th, 2024.

How will the migration affect my BISON Polygon funds?

BISON supports the Polygon upgrade. You don’t need to do anything to participate in the migration. Your Polygon funds are as safe with us as ever. We will take care of the technical changes in the background.

Why do some Polygon users need to take action while I, as a BISON customer, do not have to do anything?

Depending on the circumstances, some Polygon users may need to perform the migration themselves. This is the case, for example, for MATIC holders on the Ethereum network. When the time comes, these users will need to interact with a specific smart contract to complete the migration.

Polygon users who hold MATIC on the Polygon network do not need to take any action. The migration will happen automatically. This also applies to your Polygon funds at BISON. Your coins are held in trust by us, and we will ensure the migration process runs smoothly!

What do I need to keep in mind regarding the Polygon migration at BISON?

Please note that as a precautionary measure, trading, deposits and withdrawals of Polygon will be suspended for a few days before the migration. The trading, deposits and withdrawals of Polygon (MATIC) are possible until Monday, August 26th, at 11:00 AM.

Once all the technical steps have been completed in the background and we have confirmed that the Polygon blockchain is running stably, trading, deposits, and withdrawals will resume. We will inform you directly on BISON about the timing.

In the meantime, Polygon (MATIC) is no longer displayed in the market overview, but the coins you currently own are visible in your portfolio and held securely with us.

When will trading, deposits, and withdrawals of Polygon be possible again?

Until Monday, August 26th, at 11:00 AM, Polygon can be traded, deposited, and withdrawn prior to the migration. Of course, we will notify you directly on BISON as soon as trading, deposits, and withdrawals are possible again.

What happens to my existing limit and stop orders?

Your limit and stop orders for MATIC will be automatically deleted before the migration. We will inform you of the exact timing directly on BISON. After the migration, you can place new limit and stop orders for Polygon (POL) in the BISON app and web application.

What happens to my existing savings plans?

Your savings plans for MATIC will be automatically deleted before the migration. We will inform you of the exact timing directly on BISON. After the migration, you can set up a new savings plan for Polygon (POL) in the BISON app and web application.

Is the migration from MATIC to POL a swap?

No, the migration from MATIC to POL is not a swap. It is the next major upgrade of the Polygon ecosystem, with the goal of a scalable, unified and globally accessible blockchain technology. This upgrade will also include the migration of the current MATIC token to POL.