Funding for POL on Polygon Network is now available!
We are excited to announce that Polygon Network has been added to POL’s network coverage!
This is an important step towards supporting the Polygon team’s goal of migrating all MATIC to POL tokens. To learn more about this migration, check out our Support Center.
Over the coming months, Kraken will automatically migrate clients from MATIC to POL on a 1:1 basis. Details on this migration, including a specific timeline, will be provided as they become available.
Clients can also trade MATIC directly for POL via the new MATIC/POL trading pair, without having to wait for it to be automatically migrated. They can trade using Kraken Pro or via the conversion function using the Kraken App.
Funding
Funding for POL on Polygon Network* begins today, September 4, 2024.
*POL is already available on Kraken via the Ethereum network.
To add assets to your Kraken account, go to Funding, select the desired asset, and press ‘Deposit’.
You must deposit tokens using a network supported by Kraken. Any deposits made using other networks will be lost.
The new token will be tradable on Kraken and Kraken Pro using the following parameters:
| legacy | pair | Price Decimal Precision | Minimum order size | Minimum deposit amount |
|---|---|---|---|---|
| pole | US Dollar, Euro | 5 | 6 | 6.5 |
| Matic | pole | 5 | 6 | 6.5 |
memo:
- POL is now available to customers in the United States.
- Trading and instant purchases via the Kraken app are available when liquidity conditions are met. (when enough buyers and sellers have entered the market to enable orders to be matched efficiently).
More information about POL is available here:
pole is a multi-chain scaling solution for the Ethereum blockchain. Polygon is a layer 2 scaling solution that aims to reduce the speed, cost, and complexity of transactions on the network. Polygon uses sidechains to facilitate off-chain computation while maintaining security, and a decentralized network of Proof-of-Stake (PoS) validators. POL is the utility token of the Polygon network and is used to secure the chain through staking, participate in network governance, and pay transaction fees on the network.
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Is Kraken planning to release more assets?
Yes! However, our policy is not to disclose any details until just before launch, including assets under consideration. All available tokens on Kraken can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our customer engagement specialists cannot answer questions about what assets will be offered in the future.
This material is provided for general information purposes only and is not intended to be investment advice or a recommendation or solicitation to buy, sell, hold, or otherwise engage in any particular trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of this information and assumes no liability for any errors, omissions or delays in the presentation or use of this information or for any loss, injury or damage arising from such information. Kraken does not and will not seek to increase or decrease the price of any particular crypto asset it offers. Some crypto products and markets are unregulated and may not be protected by governmental compensation and/or regulatory protections. The unpredictable nature of the crypto asset markets can result in the loss of funds. Taxes may apply on gains and/or appreciation in the value of crypto assets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.
