Trading, deposits, and withdrawals for tokens on the Polygon network (MATIC, USDT, USDC, and WETH) will be disabled on PDAX until September 20, 2024, 12:00 NN. During this period, PDAX will also manage the conversion of MATIC to POL at a 1:1 ratio as part of the migration for the upcoming technical upgrade. Should the migration be completed ahead of schedule, we may lift the maintenance earlier than expected.
For users with tokens on the Polygon network
- To ensure your funds are safe, please do not send deposits to tokens on the Polygon network (MATIC, USDT, USDC, and WETH) until the migration is completed.
- After the migration, your MATIC balance will automatically be converted and renamed to POL.
We will keep you informed of any timeline developments related to the migration. Please stay tuned for further announcements.Should you have questions or concerns, please do not hesitate to contact us via support.pdax.ph to request assistance.
Everything you need to know about the MATIC to POL technical upgrade
The transition from MATIC to POL represents a significant upgrade for Polygon networks. POL will replace MATIC as the native gas and staking token for the Polygon PoS network in the first phase. This change aligns with Polygon's goal of becoming a network of interconnected blockchains. POL will also play a key role in the AggLayer in later stages. You can read more about the technical upgrade here.
PDAX reaffirms that the statements in this article do not constitute financial advice. PDAX does not guarantee the technical and financial integrity of the digital assets and their ecosystems. Trading with any cryptocurrency is subject to the user’s risk and own discretion and must be done after adequate and in-depth research and analysis.
For inquiries or complaints, please contact us through the following channels: Chatbot: https://pdax.ph or https://web.pdax.ph/ (click web chat feature); ‘Customer Support’ webpage at https://support.pdax.ph; Email: support@pdax.ph. Please provide us your name, email address, and any other information that we may need to identify you, your PDAX Account, and the particulars of the Order and/or Transaction on which you have feedback, questions, or complaints. If you already have a registered PDAX account, please provide us your registered name and use your registered email address.
Philippine Digital Asset Exchange (PDAX), Inc. is an entity regulated by the Bangko Sentral ng Pilipinas (BSP) https://www.bsp.gov.ph. You may get in touch with the BSP Consumer Protection and Market Conduct Office through the following channels:
Email: consumeraffairs@bsp.gov.ph; Webchat: http://www.bsp.gov.ph (click web chat feature);
Facebook: https://www.facebook.com/BangkoSentralngPilipinas;
Direct Line: (02) 5306 2584 / (02) 8708 7087;
Trunk Line: (02) 8708 7701 loc. 2584; or
SMS: 21582277 (for Globe subscribers only).
For further details, you may refer to BSP's Inclusive Finance - Consumer Protection.