BlockBee System Update: Transition from MATIC to POL

We are excited to announce that on September 4th, 2024, at 12:00 PM UTC, BlockBee will be updating the ticker for MATIC as part of the ongoing migration to POL. This change involves only the Polygon network and reflects the broader upgrade happening within the Polygon ecosystem.

What’s Happening?

As you may already know, the Polygon network is transitioning from MATIC to POL. This upgrade marks the beginning of POL replacing MATIC as the native gas and staking token for the Polygon PoS network. Eventually, POL will take on a critical role within the AggLayer as well, paving the way for more advanced functionalities within the network.

How Does This Affect You?

Starting from 12:00 PM UTC on September 4th, all instances of MATIC within the BlockBee system will automatically update to POL. This means that:

• Any transactions involving MATIC on the Polygon network will now be reflected as POL.
• All future transactions and operations within the BlockBee system on the Polygon network will utilize POL.

Mandatory Action for Merchants Accepting MATIC on the Polygon Network

If you are currently accepting payments in MATIC through BlockBee on the Polygon network, it is mandatory to update your API requests to replace MATIC with POL. Merchants who do not make this update will no longer be able to accept payments using the MATIC ticker.

To ensure continued service and a seamless experience, please make the necessary changes as soon as possible.

If you are not accepting MATIC payments on the Polygon network, no action is required on your part.

For more detailed information or if you hold MATIC and need further clarification, please refer to the official announcement: Polygon Announcement.

Thank you for your continued trust in BlockBee. We’re excited to support this next step in the Polygon network’s evolution and look forward to the enhanced capabilities POL will bring.