SunCrypto is excited to announce its support for the upcoming rebranding and token swap from Polygon (MATIC) to Polygon (POL). This transition marks a significant step for the Polygon network, and we are committed to ensuring a seamless experience for our users during this process.
Polygon Token Swap: Key Dates and Changes
▪️ Suspension of MATIC Deposits: Effective from 3rd September 2024, SunCrypto will suspend all deposits of Polygon (MATIC) tokens. This precautionary measure is to ensure that the token swap process occurs smoothly without any disruptions.
Remember that after the rebranding is complete, deposits for Polygon (POL) will be enabled but not for the old Polygon (MATIC).
▪️ Suspension of Spot Trading: On 8th September 2024, SunCrypto will suspend spot trading services for the Polygon (MATIC) tokens. In addition, all pending limit orders for both buy and sell will be immediately canceled on the same day of spot trade suspension and will not be re-executed by us again.
▪️ Suspension of MATIC Staking: With effect from September 3, 2024, SunCrypto will remove all users' staked Polygon (MATIC) tokens from the pool, and we’ll not be re-staking them again after the rebranding.
▪️ Swapping & Rebranding Timeline: As per the Polygon announcement, the rebranding might take place between the 3rd and 14th of September 2024.
Token Swap Details
The token swap is an essential part of the rebranding process. Here’s what you need to know:
▪️ Ticker Change: Post-swap, the MATIC tokens will be rebranded and will assume the ticker POL.
▪️ Swap Ratio: All MATIC tokens held by users will be swapped to POL tokens at a 1:1 ratio. This means that for every 1 MATIC token, users will receive 1 POL token.
1MATIC : 1POL
Resumption of Trading
SunCrypto will introduce a new trading pair to accommodate the rebranded tokens. Trading for the new POL/INR pair will commence on 14th September 2024. Users can start trading their newly acquired POL tokens against INR from this date.
Users holding MATIC tokens on SunCrypto need not take any action. Our platform will handle the swap automatically. After the swap, users will see their MATIC tokens replaced by POL tokens in their wallets.
For more detailed information regarding the Polygon (MATIC) to Polygon (POL) token swap, you can refer to the official announcements here - CLICK HERE.
At SunCrypto, we are committed to keeping our users informed and prepared for any significant changes in the crypto space. The Polygon (MATIC) to Polygon (POL) swap is one such development, and we are here to ensure a smooth transition for all our users.
Stay tuned for further updates, and as always, happy trading with SunCrypto!
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