3 months ago
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We’re thrilled to announce that we’ve extended the network coverage of POL to include the Polygon Network!
This is an important step as we work towards supporting the Polygon team’s objective of migrating all MATIC to the POL token. To find out more about this migration, check out our Support Center.
In the coming months, Kraken will automatically migrate clients from MATIC to POL on a 1:1 basis. We will provide details regarding this migration, including a specific timeline, once available.
Clients also have the ability to trade their MATIC for POL themselves now via the new MATIC/POL trading pair, rather than wait to be automatically migrated. They can do so using Kraken Pro, or via the convert feature using the Kraken app.
Funding
Funding for POL on the Polygon Network* is live as of today, September 4, 2024.
*POL is already available on Kraken via the Ethereum Network.
To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit.’
Make sure to deposit your tokens using networks supported by Kraken. Deposits made using other networks will be lost.
The new tokens are tradeable on Kraken and Kraken Pro with the following parameters:
| POL | USD, EUR | 5 | 6 | 6.5 |
| MATIC | POL | 5 | 6 | 6.5 |
Note:
POL is now available to clients in the US Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched).Here’s some more information about POL:
POL is a multi-chain scaling solution for the Ethereum blockchain. Polygon is a Layer 2 scaling solution that aims to improve the speed, while also reducing the cost and complexities, of transactions on its network. Polygon uses sidechains to help with off-chain computation while maintaining security and uses a decentralized network of proof-of-stake (PoS) validators. POL is the utility token of the Polygon network and is used for securing the chain through staking, participating in network governance and as a unit of payment for transaction fees on the network.
Ready to trade but don’t have a Kraken account yet? Sign up today!
Will Kraken make more assets available?
Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
The post POL on the Polygon Network is now available for funding! appeared first on Kraken Blog.
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