LCX is excited to announce its support for the upcoming migration of Polygon (MATIC) to the Polygon Ecosystem Token (POL). This change is an important step in the evolution of the Polygon network, and LCX is fully prepared to assist users throughout the transition.
In line with this migration, LCX will convert all MATIC tokens held on the LCX platform to POL tokens at a 1:1 ratio. Below is everything you need to know about the migration process and how it will affect your MATIC holdings.
Important Dates and Details
The migration from MATIC to POL will affect trading, deposits, and withdrawals of MATIC on LCX Exchange. These services will be permanently suspended at the following times:
- Deposit & Withdrawal Suspension: 5th September 2024, 6:00 PM CET
- Trading Suspension: 9th September 2024, 6:00 PM CET
Users are advised to make necessary adjustments to their positions before these cut-off times to ensure a smooth transition.
Conversion of MATIC to POL
All existing MATIC tokens will be converted into POL tokens at a 1:1 ratio. The conversion will take place after the suspension of MATIC services, and the updated POL tokens will be reflected in your LCX Wallet according to your MATIC balance at the time of the migration.
Impact on Specific Services
The migration will also affect various services on LCX that involve MATIC, including the following:
Trading Orders:
- All MATIC trading orders on the LCX Exchange will be automatically terminated.
- Users should review and close any active MATIC orders before 5th September 2024 to avoid disruption in trading activities.
Next Steps
Once the migration is complete, LCX will enable deposits and withdrawals for POL on the Polygon network on 9th September 2024, 6:00 PM CET.
At LCX, we are committed to supporting the growth of the Polygon ecosystem and making this transition as seamless as possible for our users. If you have any questions, please reach out to our support team at [email protected].
Important Note: Trading cryptocurrency is complex and comes with a high risk of losing money. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product.
