Update on Polygon (MATICM) Migration

As a continuation of our support of the Polygon migration from MATIC to POL that we previously announced, we will also support the renaming of the Polygon mainnet token (MATICM) to Polygon Ecosystem Token (POLM) on the Polygon network in line with changes made by the project. The name change will not affect the token's functionality. The renaming will take effect on 24/09/2024 at approximately 10:00 AM UTC. Furthermore, Bitfinex will rename customers' MATICM balances to POLM. There is no action required from customers.

As part of the renaming of Polygon’s mainnet token (MATICM) to the Polygon Ecosystem Token (POLM), Bitfinex will also update the currency conversion tools on its Wallets Page which allow customers to seamlessly swap between Polygon MATIC ERC-20 (Ticker: MATIC), Polygon Ecosystem Token ERC-20 (Ticker: POL) and Polygon Ecosystem Token on Polygon (Ticker: POLM). 

Specifically, customers will be able to swap:

• from MATIC to POL
• from MATIC to POLM
• from POL to POLM, and from POLM to POL

Currency converter tools to swap from MATICM to MATIC, from MATICM to POL and from MATIC to MATICM will be closed.

The POLM deposit address will remain the same as the previous MATICM deposit address.

MATIC (ERC-20) remains available for staking on Bitfinex, and the rewards will be granted directly in POL. POLM and POL (ERC-20) staking are not currently supported.

POL (ERC-20) and MATIC (ERC-20) token symbols or balances will not be affected by this update.

More information on Polygon can be found at https://polygon.technology/.