How to Move from MATIC to POL

Transferring MATIC to POL: Overview 

The method of upgrading or transferring your MATIC tokens to POL will range relying on the place your tokens are saved. Let’s take a look at the important thing eventualities: 

• On Polygon PoS: The migration occurs routinely. You don’t must take any motion, however you may need to replace the token image manually. 

• On Ethereum or zkEVM: You’ll must migrate your MATIC manually utilizing the Polygon Portal Interface. In some circumstances, bridging is perhaps required to finish the method. 

Let’s dive into how every state of affairs works. 

MATIC on Polygon PoS 

In case your MATIC tokens are saved on Polygon PoS (which acts as a layer-2 community on Ethereum), the migration will occur routinely. Your MATIC will likely be upgraded to POL with none want for guide steps. 

Nevertheless, after the improve, you should still see “MATIC” displayed in your pockets as an alternative of “POL.” To repair this: 

1. Go to your pockets settings. 
2. Choose the Polygon mainnet. 
3. Click on on the “three dots” or comparable button to entry “Settings.” 
4. From the Settings menu, discover “Networks” and evaluation the Polygon Mainnet particulars. 
5. It is best to see POL because the prompt token ticker. Choose it, and your pockets will replace, displaying POL as an alternative of MATIC. 

MATIC on Ethereum 

In case your MATIC tokens are on Ethereum, you’ll must migrate them manually to POL. Utilizing the Polygon Portal Interface, that is attainable. Observe these steps: 

1. Go to the Polygon portal. 
2. When prompted to improve MATIC to POL, choose “Hop On.” 
3. Be certain that the Ethereum mainnet is linked to your pockets. 
4. Select the variety of MATIC tokens you wish to migrate. 
5. Evaluate the fuel charges, approve the transaction, and anticipate the improve to be processed. 
6. After the transaction is permitted, click on “Improve” to swap MATIC for POL on a 1:1 foundation. 

As soon as accomplished, POL tokens will seem in your pockets. In the event you don’t see the tokens, it’s possible you’ll want so as to add the POL contract handle manually. 

MATIC on Polygon zkEVM 

For customers with MATIC on Polygon zkEVM, the method requires an additional step. You will have to bridge your MATIC tokens to Ethereum first, then observe the Ethereum migration steps. Right here’s how: 

1. Use a bridge resembling Polygon Bridge to switch MATIC from zkEVM to Ethereum. 
2. Select Ethereum because the vacation spot and zkEVM because the supply community. 
3. Approve the bridging transaction to maneuver MATIC to Ethereum. 
4. After the tokens are on Ethereum, use the steps outlined above to improve MATIC to POL. 

Can You Switch MATIC Immediately from zkEVM to Polygon PoS? 

You may surprise why it’s good to transfer your tokens to Ethereum when you would merely improve them from zkEVM to Polygon PoS. The official migration date for automated upgrades on Polygon PoS was September 4, 2024. Since that date has handed, there are further steps concerned, together with bridging to Ethereum earlier than upgrading. 

Different Migration Eventualities 

Along with Polygon PoS, Ethereum, and zkEVM, there are different circumstances to think about for migrating MATIC to POL: 

• Centralized Exchanges (CEXs): In the event you maintain MATIC on exchanges like Binance or Coinbase, the alternate might deal with the migration for you. Hold an eye fixed out for particular updates out of your alternate. 

• Good Contracts: MATIC held in good contracts on Polygon PoS will routinely improve to POL. For tokens on Ethereum or zkEVM, you’ll must manually replace the contracts or migrate the tokens. 

• Liquid Staking Suppliers: Some staking packages may pause operations quickly in the course of the improve. Staked tokens will sometimes improve routinely. 

What Occurs If You Don’t Migrate? 

In the event you select to not migrate your MATIC to POL, you would lose entry to sure features inside the Polygon ecosystem. POL will likely be important for paying fuel charges, staking, and different key actions. Failing emigrate on Ethereum or zkEVM might end in misplaced staking rewards or transaction points. 

The Function of POL Shifting Ahead 

The improve from MATIC to POL isn’t nearly a reputation change. POL is predicted to play a major position in securing Polygon’s Aggregation Layer and enhancing interoperability throughout the community. It’ll additionally energy the upcoming staking hub, set to launch in 2025. To totally profit from these options, it’s beneficial to switch your MATIC to POL as quickly as attainable.