Major crypto exchange Binance has announced the completion of the Polygon (MATIC) token swap to Polygon (POL).In this light, deposits and withdrawals for the new POL tokens have now been opened. Binance will also add the new token to its various platforms: Polygon (POL) will be added to Binance Simple Earn, "Buy Crypto," Binance Convert, Binance Margin, Binance Futures and Binance Auto-Invest at the respective dates and times listed below.
#Binance Futures will launch the USDⓈ-M $POL Perpetual Contract at 🗓️ September 12 2024, 12:15 (UTC)Read more ➡️ https://t.co/VDhn7Lrj2w pic.twitter.com/t7IIHSvSHf
— Binance Futures (@BinanceFutures) September 13, 2024
Binance has also opened spot trading for the POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC and POL/USDT spot trading pairs today, Sept. 13, while trading bots and spot copy trading are set to be enabled subsequently.
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On Sept. 4, MATIC was upgraded to POL as the network token for the Polygon ecosystem. The initial token supply of POL is set at 10 billion, with an annual inflation rate of 2% for the first 10 years. Token dilution may occur due to emissions.
Important dates to note
Amid the new listings for the POL token, here are important dates announced by Binance.
Binance Futures will be launching the POL Perpetual Contract on Sept. 13 at 12:15 p.m. (UTC), with up to 75x leverage.
POL Simple Earn Flexible and Locked Products will be listed on Binance Simple Earn on Sept. 13 at 10:00 a.m. (UTC) and will be available for subscription.
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From Sept. 16 at 10:00 a.m. (UTC), users will be able to purchase POL using any of the payment options supported on Binance Auto-Invest, and on this same date at 6:00 a.m. (UTC), POL Dual Investment will be available for subscription.
Binance Margin will be adding POL as a new borrowable asset on Cross and Isolated Margin, as well as the POL/USDT, POL/USDC and POL/FDUSD pairs on Cross and Isolated Margin on Sept. 13 at 12:00 noon (UTC).
