Polygon has enabled a conversion portal on its web site to transform MATIC holdings to POL on the Ethereum community. The latter, the community’s new token, is offered as the brand new model of MATIC.
As reported by the group, the conversion between each belongings is finished in 1:1 parity. To do that, It’s needed to attach a pockets and proceed with the replace.
The necessity for handbook migration on Ethereum might contain a threat of error or forgetfulness, which may depart some customers with outdated MATIC tokens if they don’t convert in time. It’s essential for these customers concentrate on the directions supplied by Polygon to make sure your belongings are up to date accurately.
The activation of the conversion portal comes simply days earlier than all MATIC tokens are up to date and transformed into POL, in line with the group’s plans.
As reported in July by CriptoNoticias, the Polygon community took a major step saying that its MATIC token can be transformed into POLmarking a milestone within the evolution of its platform.
This transformation is scheduled for September 4th, the place all MATIC tokens on the Polygon community will robotically be reworked into POL with out the necessity for consumer intervention.
The transition is a part of a broader technique by Polygon to Enhance the interoperability and performance of your communityadapting to the long run wants of the ecosystem and its customers.
This transfer by Polygon joins a development of upgrades within the sector. Not too long ago, MakerDAO introduced an identical evolution with its DAI token, reflecting a dynamic of adaptation and steady enchancment on the planet of cryptocurrencies, as reported by this media.
This text was created utilizing synthetic intelligence and edited by a human on the editorial workers.
