BitMEX Users to Experience Changes Amid MATIC to POL Migration

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BitMEX Users to Experience Changes Amid MATIC to POL Migration

BitMEX has announced significant changes for its users in response to the upcoming Polygon network migration. Starting September 4, 2024, the platform will support the new POL token, which will replace MATIC as the native gas and staking token for Polygon's Proof-of-Stake (PoS) chain, according to a BitMEX Blog.

Zero Withdrawal Fees for MATIC (ERC-20)

To facilitate this transition, BitMEX is enabling zero network fees for any MATIC (ERC-20) withdrawals effective August 27, 2024. The platform urges existing MATIC holders to withdraw their tokens from BitMEX wallets as soon as possible to avoid complications during the migration.

Delisting of MATIC Contracts

In preparation for the migration, BitMEX will delist all MATIC contracts, including Spot, Perpetual, and Convert contracts, on September 3, 2024. This move aims to streamline the transition to POL tokens and minimize disruption for users.

Support for POL on Polygon

Following the migration on September 4, 2024, BitMEX will support the POL token on the Polygon network exclusively. The platform will no longer support MATIC or POL tokens on the Ethereum (ERC-20) network. Additionally, BitMEX plans to list new contracts for the POL token, offering users a seamless transition and continued trading opportunities.

Steps for Users

BitMEX has provided detailed instructions for users to navigate the migration process. Users are advised to read the full details on the implications of this migration and the necessary steps on the BitMEX Blog.

For any queries or additional support, users can contact BitMEX Support through the platform's official contact page.

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