Dear Binancian,

Binance will support Polygon (MATIC) to Polygon (POL) token swap.

On 2024/09/10 03:00 (UTC), Binance will delist all existing MATIC Spot trading pairs (i.e. MATIC/BNB, MATIC/BRL, MATIC/BTC, MATIC/ETH, MATIC/EUR, MATIC/FDUSD, MATIC/JPY, MATIC/TRY, MATIC/USDC, and MATIC/USDT) and cancel all pending MATIC Spot trading orders. On 2024/09/13 10:00 (UTC), Binance will open trading for POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC, and POL/USDT trading pairs.

General

  • Deposits and withdrawals

    • On 2024-09-10 at 03:30 UTC, MATIC token deposits and withdrawals will be suspended. Please ensure you allow sufficient time for your MATIC token deposits to be fully processed before this deadline.

    • Binance will issue a separate announcement after the event is over to inform users when POL token deposits and withdrawals are open.

    • Once the event is over, MATIC token withdrawals will no longer be supported.

  • Binance is committed to meeting all technical requirements for all users.

  • Users can refer to the announcement from the project team for more information.

  • From 2024/09/04 12:00 AM (UTC) to 2024/09/10 3:30 AM (UTC), deposits and withdrawals of Polygon native PoS tokens (POL) will retain the MATIC symbol within Binance.

Swap de tokens

  • MATIC tokens will take the symbol of POL tokens on Binance.

  • All MATIC tokens will be swapped to POL at a ratio of 1 MATIC = 1 POL.

Spot

  • On 2024/09/10 03:00 (UTC), Binance will delist and halt trading of all Spot trading pairs for MATIC.

  • The exact trading pairs removed are: MATIC/BNB, MATIC/BRL, MATIC/BTC, MATIC/ETH, MATIC/EUR, MATIC/FDUSD, MATIC/JPY, MATIC/TRY, MATIC/USDC, and MATIC/USDT.

  • All trading orders will be automatically deleted after trading of each respective trading pair is stopped.

  • Binance will terminate trading bot services for the above-mentioned Spot trading pairs on 2024/09/10 03:00 (UTC), if applicable. Users may update and/or cancel their trading bots before the trading bot services are terminated to avoid any potential losses.

  • Binance will open trading for POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC, and POL/USDT trading pairs on 2024/09/13 10:00 AM (UTC).

Marge

  • Binance Margin will remove MATIC from Cross and Isolated Margin on 2024/09/05 11:00 AM (UTC). The Cross and Isolated Margin pairs MATIC/BTC, MATIC/FDUSD, MATIC/USDC, and MATIC/USDT will be removed from Binance Margin.

    • On 2024/09/02 06:00 (UTC), Binance Margin will suspend Isolated Margin borrowing for the above-mentioned Isolated Margin pair(s). On 2024/09/05 11:00 (UTC), Binance Margin will close users' positions, perform auto-settlement, and cancel all pending orders on the above-mentioned Isolated Margin pair(s). The above-mentioned pair(s) will then be removed from Isolated Margin.

    • On 2024/09/02 06:00 (UTC), Binance Margin will suspend cross-margin borrowing on MATIC. On 2024/09/05 11:00 (UTC), if users have both collateral and liabilities of the aforementioned token(s), the collateral will be used to repay the relevant liabilities. If there is still collateral or liabilities of the aforementioned token(s), one of the following two situations will occur:

      • If users only hold the aforementioned token(s) as collateral:

        • If the Margin Collateral Level (MCL) is greater than 2, the aforementioned token(s) will be transferred to users' Spot Wallets, until the MCL reaches 2. The remaining tokens in their Cross Margin accounts that need to be delisted will then be sold in full using Market orders.

        • If the NMG is less than 2, the remaining tokens in the cross margin accounts of users who need to be delisted will be fully sold using Market orders.

      • If users only hold the aforementioned token(s) as liabilities:

        • If the NMG is equal to or greater than 2, pending orders will not be affected.

        • If the NMG is less than 2, all pending orders in their cross margin accounts will be cancelled.

        • The system will then place Market sell orders on the users' remaining collateral tokens to purchase and fully repay the liabilities of the delisted token(s).

  • Please note that users will not be able to update their positions during the delisting process and can close their positions and/or transfer their assets from margin wallets to spot wallets before margin trading ceases on 2024/09/05 11:00 AM (UTC). Binance will not be held responsible for any losses incurred.

  • Margin Wallet users may transfer the aforementioned token(s) from their Margin Wallets to their Spot Wallets and fund their margin balance before 2024/09/05 11:00 AM (UTC) if necessary. Users should closely monitor the Unified Account Maintenance Margin Ratio (uniMMR) to avoid any potential liquidation that may result from the withdrawal of the aforementioned token(s) from the Margin Wallet.

  • All MATIC balances in the cross-margin wallets of the wallet's margin account will be automatically converted to USDT starting from 2024/09/05 11:00 AM (UTC). The conversion may take approximately 24 hours or more. Binance Margin is not responsible for any losses on new positions that may occur during this period due to the conversion of funds. Please refer to this FAQ for more information.

  • A separate announcement will be published for the new listing on the platform.

Loans

  • Starting from 2024/09/04 03:00 (UTC), Binance Loans (Flexible Rates) and VIP Loan will close all outstanding MATIC loan positions (both loanable tokens and collateral tokens will be closed). Users can repay their MATIC loans before 2024/09/04 03:00 (UTC) to avoid any potential losses.

  • Please refer to the Binance Loans (Flexible Rates) and VIP Loan FAQ for more information. You can also find additional details in the Binance Loans and VIP Loan Terms and Conditions.

Simple Earn 

  • From 2024/09/09 03:00 (UTC), Binance Simple Earn will stop supporting Simple Earn flexible products in MATIC as well as locked products, and subscriptions will no longer be available.

  • Starting from 09/09/2024 03:00 (UTC), all remaining positions on MATIC locked and flexible products, as well as all accrued rewards, will be automatically refunded to users’ Spot Wallets. Users can choose to redeem their assets from Simple Earn locked and flexible products in MATIC at any time before 09/09/2024 03:00 (UTC) without deduction of accrued rewards.

  • After 2024/09/13 10:00 AM (UTC), Binance Simple Earn will re-subscribe POL assets into Flexible Products and Locked Products for affected users according to the above swap ratio once the event is over.

    • In case of change in user's MATIC balance after redemption, new subscription will be made based on user's previous asset allocation ratio between flexible and locked products with different tenors with remaining POL balance.

    • Example: A user has 30 MATIC in 30-day locked products, 20 MATIC in 90-day locked products and 50 MATIC in flexible products. If the user's total MATIC/POL balance changes from 100 to 50 before the new subscription, the new subscription amount will be: 15 MATIC in 30-day locked products, 10 MATIC in 90-day locked products, 25 MATIC in flexible products.

  • About Locked Product Positions

    • Rewards will be distributed to the user's Spot wallet the day after accumulation on new subscriptions begins (two days after subscription).

    • The duration of the locked products will be reset with the new subscription. For example, a 30-day locked product position in MATIC with seven days until expiration will be reset to 30 days until expiration for the new 30-day locked product position in POL.

    • After the new subscription, users can early redeem the locked product positions in POL before 2024-09-27 04:00 (UTC) without deduction of accumulated rewards.

Binance Pay

  • On 2024/09/06 03:00 (UTC), Binance will remove MATIC from the list of supported cryptocurrencies on Binance Pay.

Convert

  • Binance Convert Sell Only feature will continue to be available for MATIC and all related pairs from 2024/09/05 03:00 (UTC) to 2024/09/09 02:00 (UTC). Binance Convert will then delist MATIC and all related pairs on 2024/09/09 02:00 (UTC).

Convert low-value assets

  • The Convert Low Value Assets feature will delist MATIC on 2024-09-08 02:00 (UTC). Users can choose to convert low value assets in advance.

Auto-Invest by Binance

  • Binance Auto-Invest will delist MATIC after 2024/09/04 03:00 (UTC). Users can choose to delete the plan(s) before then. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.

Buy and sell cryptos

  • On 2024-09-09 03:00 (UTC), the crypto buy and sell features will delist MATIC and all associated pairs.

....

Thank you for your support!

The Binance Team

28/08/2024