September 01, 2024 – We, as Remitano, a pioneering platform in the cryptocurrency exchange sector, is sincere to announce a detailed schedule for the upcoming conversion of MATIC tokens to POL tokens. This strategic transition underscores our unwavering commitment to innovation and enhancing user experience by aligning with the latest advancements in blockchain technology.
Transition Overview
In response to the Polygon network's latest upgrade, Remitano is facilitating a seamless conversion process for its users from MATIC to POL tokens. This process ensures users continue to enjoy uninterrupted trading and investment opportunities on our platform.
Key Dates and Detailed Actions:
1. September 1, 2024: At 07:00 UTC
MATIC Deposits: All MATIC deposits on the BSC chain will be officially blocked, preventing any new inflows of the token on this network.
Trading Positions: The creation of new positions in the MATIC/USDT trading pool will be halted. Users are advised to manage their existing positions accordingly.
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Proactive Closures:
- Users are encouraged to proactively close any old MATICUSDT positions by September 3, 2024 to prevent automatic closures.
- Limit Orders: Users should also proactively close any LOs related to MATIC. Any remaining LOs will be forcibly closed on September 3, 2024
- Trading Availability: Users can continue to buy and sell MATIC through swap transactions until September 3, 2024
Withdrawal Advisory: Users intending to trade should withdraw their MATIC tokens before September 3, 2024
2. September 3, 2024: At 07:00 UTC
BSC Chain Withdrawals: Withdrawals of MATIC on the BSC chain will be completely blocked on Remitano.
Polygon Chain Restrictions: All deposits and withdrawals of tokens, including MATIC and USDT on the Polygon chain, will be suspended.
Swap Trading: MATIC swap trading will be disabled, preventing any further transactions until the conversion is complete.
Recurring Buy: All records associated with Recurring Buy products will be blocked and disabled to ensure a smooth transition.
Position and Limit Order Closures: All remaining old MATICUSDT positions and LOs related to MATIC will be closed.
Post-Upgrade Plans:
Upon completion of the Polygon network upgrade, anticipated between September 13-20, Remitano will swiftly implement the following actions:
- USDT Transactions: Reopen USDT deposits and withdrawals on the Polygon chain, ensuring continued liquidity and investment opportunities.
- Token Conversion: Facilitate the conversion of MATIC balances to POL balances directly in user wallets.
- Market Reopenings: Reopen the swap market and limit orders for POL tokens, allowing users to engage in new trading activities.
- Recurring Buys & Positions: Reinstate Recurring Buy options and reopen all trading positions for POL tokens, enhancing user flexibility and strategy.
Remitano remains dedicated to delivering high-quality service and support throughout this transition. Our team is working diligently to ensure a seamless process and minimal disruption to our users. With a focus on continuous improvement and customer satisfaction, Remitano is committed to adapting to the evolving digital asset landscape and providing cutting-edge solutions for our users.
Please contact our support team for any questions or assistance required during this transition period.
