Polygon’s mainnet upgrade is scheduled for September 4, 2024, marking the transition of its native token from MATIC to POL. After the upgrade, POL will replace MATIC as the native gas and staking token on the Polygon PoS network. MATIC holders on Polygon PoS will not need to take any action, whereas MATIC holders on other blockchains will need to migrate. In subsequent phases, the community can decide to expand the utility of POL to serve a crucial role in the AggLayer. This blog describes the migration process.

Read the full announcement by Polygon

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MATIC Holders on Polygon PoS Mainnet

On September 4, 2024, all MATIC tokens on the Polygon PoS chain will automatically migrate to POL tokens. No user input is required.

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MATIC Holders on Ethereum Mainnet

When MATIC holders on Ethereum choose to upgrade, they can do so permissionless using a deployed migration contract. This will allow you to convert MATIC tokens to POL tokens on Ethereum.

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For more detailed instructions on how to do so please see our changelog.

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If you need any guidance on how to migrate, feel free to reach out via the developer portal.