Polygon's transition from MATIC to POL marks a pivotal moment in the Polygon 2.0 roadmap. This upgrade enhances network functionality and flexibility, but as a MATIC holder, what steps should you take? This comprehensive guide explains how to transfer MATIC to POL across different networks—Polygon PoS, Ethereum, or zkEVM—with clear, actionable steps.
Understanding MATIC to POL Migration
The migration process varies depending on your token's current network. Below, we break down each scenario for seamless upgrades:
- Polygon PoS: Automatic upgrade with no manual steps required.
- Ethereum or zkEVM: Manual migration via the Polygon Portal Interface, sometimes involving bridging.
Step-by-Step Migration Instructions
1. Migrating MATIC on Polygon PoS
If your MATIC tokens reside on Polygon PoS, the upgrade to POL happens automatically.
👉 Learn more about automatic upgrades
Potential Issue: Your wallet may still display "MATIC" instead of "POL." Here’s how to resolve this:
- Open MetaMask and navigate to Polygon Mainnet settings.
- Click "Networks" and locate "Polygon Mainnet."
- Update the ticker symbol from MATIC to POL manually.
This ensures your wallet reflects the correct token designation post-upgrade.
2. Migrating MATIC on Ethereum
For MATIC held on Ethereum, follow these steps:
- Visit the Polygon Portal Interface.
- Connect your wallet (ensure Ethereum Mainnet is selected).
- Enter the amount of MATIC to upgrade.
- Approve the transaction and pay gas fees.
Note: After migration, manually add POL’s contract address if tokens don’t appear automatically.
3. Migrating MATIC on Polygon zkEVM
Tokens on zkEVM require bridging to Ethereum first:
- Use the Polygon Bridge to transfer MATIC from zkEVM to Ethereum.
- Follow Ethereum migration steps above.
Why bridge to Ethereum? Direct zkEVM-to-PoS migration is no longer supported post-Sept. 2024.
Additional Migration Scenarios
Centralized Exchanges (CEXs)
Exchanges like Coinbase or Binance typically handle migrations automatically. Check your platform for updates.
Smart Contracts & Liquid Staking
- Smart Contracts: Auto-upgrade on PoS; manual migration needed for Ethereum/zkEVM.
- Liquid Staking: Programs may pause temporarily during upgrades.
Risks of Not Migrating
Failing to migrate MATIC to POL may result in:
- Loss of staking rewards.
- Inability to pay for gas or participate in Polygon’s ecosystem.
👉 Explore POL’s future utility
POL’s Future Role
Beyond the ticker change, POL will:
- Secure Polygon’s Aggregation Layer.
- Support interoperability and the 2025 staking hub.
FAQ
1. Is MATIC to POL a 1:1 swap?
Yes, the exchange rate is 1 MATIC = 1 POL.
2. Can I migrate MATIC after the deadline?
Yes, but delayed migration may limit functionality.
3. How do I check my POL balance?
Use a blockchain explorer or wallet like MetaMask after adding the POL contract.
4. Are gas fees high for Ethereum migrations?
Fees vary; check Ethereum’s network congestion before proceeding.
5. Will staked MATIC auto-upgrade?
Yes, if staked on PoS. For zkEVM/Ethereum, manual steps are needed.
6. What if my exchange hasn’t upgraded MATIC?
Contact support or consider self-custody migration.
Key Takeaways:
- PoS: Auto-upgrade.
- Ethereum/zkEVM: Manual steps via Polygon Portal.
- Migrate promptly to avoid disruptions.
For further assistance, consult Polygon’s official documentation or community forums.