Crypto exchange Coinbase said it would support the Ethereum layer-2 network Polygon planned token upgrade from MATIC tokens to the new Polygon Ecosystem Token (POL).
On Aug. 21, the exchange announced that it would begin migrating the Polygon ticker from MATIC to POL starting Aug. 26. It stated:
“In the coming months, Coinbase plans to complete the migration from MATIC to POL on behalf of users. We will provide details regarding the migration of Coinbase balances including the timeline for conversion once available.”
During the migration, sending and receiving MATIC on the Polygon network will be disabled between Aug. 26 and Sept. 10. This measure aims to ensure a smooth transition from MATIC to POL.
The exchange also revealed plans to add support for POL on the Ethereum network by Sept. 4. The firm will also support trading for both MATIC and POL on Ethereum until further notice.
Meanwhile, customers staking MATIC on Coinbase will continue to earn rewards.
According to CryptoSlate
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