MATIC - Polygon

What is Polygon?

Polygon, formerly known as Matic Network, is a leading Layer 2 scaling solution for Ethereum, designed to provide faster and more cost-efficient transactions. As an open-source platform, Polygon addresses the scalability challenges of Ethereum by leveraging a combination of advanced technologies, including Plasma, Proof-of-Stake (PoS), and ZK-Rollups. By utilizing these technologies, Polygon significantly reduces transaction fees and improves processing times, making it an ideal environment for building decentralized applications (dApps) and scaling blockchain projects.

Polygon, formerly known as the Matic Network, is a Layer 2 scaling solution for Ethereum. It is an open-source platform that aims to provide faster and cheaper transactions on the Ethereum network. Polygon achieves this by using a combination of technologies, including Plasma, Proof-of-Stake (PoS), and ZK-rollups. Learn more

MATIC to POL Migration

MATIC has recently been migrated to Polygon's new native token POL, as part of their latest network upgrade. MATIC will remain unchanged on the Ethereum network until further notice. For more information, please read our help guide here. 

How to Deposit MATIC Into Your Coinmetro Account

For all information on how to deposit MATIC into your Coinmetro account, please see the following help center article: How to Deposit MATIC. 

For ETH deposits on the Ethereum Network

As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk of loss of assets caused by a too-low gas limit.

If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts or using a full ETH wallet as an intermediary.

How to Withdraw MATIC From Your Coinmetro Account

For all information on how to withdraw MATIC from your Coinmetro account, please see the following help center article: How to Withdraw MATIC.

Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.

Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.