Binance to support Cardano and Polygon network updates
Binance will support Cardano and Polygon's upcoming network events in September 2024.
Cardano's Chang hardfork is scheduled for September 1st and the Polygon MATIC to POL token transition will begin on September 4th. Binance will cancel the MATIC trading pair on September 10 and open the POL trading pair on September 13.
Crypto exchange Binance has announced that it will support the upcoming network update for Cardano (ADA) and Polygon (MATIC).
In the year In separate announcements on August 30, the exchange announced to its customers and the wider Cypto community that it supports Cardano's Chang hard fork and Polygon's MATIC migration to the POL token.
Binance to support Cardano hard fork
On September 1, 2024, the Cardano network will activate the highly anticipated Chang hard fork. The update, which introduces voting and treasury systems as part of Cardano's governance and decentralization, has been delayed from its originally expected August 27 implementation date.
Binance and other exchanges were not ready for the hard fork. In a post on X, Cardno founder Charles Hoskinson explained that the delay is to allow these critical ecosystem players to prepare. It is reported that financial transactions have reached 85 percent of the required level.
People who don't take deadline magic reforms seriously say we should act suddenly. We'll be in touch as soon as you move.
Binance and a few others seem to need more time to get their house in order, so the Rocket awaits…
— Charles Hoskinson (@IOHK_Charles) August 23, 2024
According to an update, the level of Staking Pool Operators (SPOs) has also been reached. Decentralized applications (dApps) are also ready, and a vote for live streaming has been “unanimously” agreed for September 1.
Binance will disable ADA deposits and withdrawals as part of its hard fork support.
Binance supports Cardano (ADA) network upgrade and hard fork.
👉
— Binance (@binance) August 30, 2024
Polygon MATIC to POL token conversion
Also gaining support from Binance is the upcoming Polygon token migration.
The exchange will cancel all MATIC trading pairs on September 2024 at 03:00 UTC and add support for the new token with the ticker POL. New POL trading pairs will go live on Binance on September 13, 2024 at 10:00 UTC. announced.
Polygon expects a MATIC to POL token exchange on September 4th. In this earlier announcement, POL was introduced by Polygon POS before expanding to cover other network uses.
