Binance to support Cardano and Polygon network upgrades

• Binance will support Cardano and Polygon’s upcoming network events in September 2024.
• Cardano has its Chang hardfork scheduled for Sept. 1 and Polygon will see its MATIC to POL token transition start on Sept. 4.
• Binance will delist MATIC trading pairs on Sept. 10 and open POL trading pairs on Sept. 13.

Crypto exchange Binance has announced that it will support the upcoming network upgrades for Cardano (ADA) and Polygon (MATIC).

In separate announcements on Aug. 30, the exchange notified its customers and the broader cypto community that it would support Cardano’s Chang hard fork and Polygon’s MATIC to POL token migration.

Binance to support Cardano hard fork

On September 1, 2024, the Cardano network will activate its highly anticipated Chang hard fork. The upgrade that will introduce voting and treasury systems as part of Cardano’s governance and decentralization initially delayed from an expected implementation date on Aug. 27.

Binance and other exchanges had been unprepared for the hard fork. In a post on X, Cardano founder Charles Hoskinson noted that the delay was to allow these crucial ecosystem players prepare. Exchanges have reportedly reached the required threshold of 85%.

The magic of deadlines is that people who aren’t taking upgrades seriously suddenly say damn we got to get moving. When they get moving, we converge quickly.

It looks like Binance and a few others need more time to get their houses in order, so the rocket is going to wait on…

— Charles Hoskinson (@IOHK_Charles) August 23, 2024

According to an update, the staking pool operators (SPOs) threshold has also been reached. Decentralized applications (dApps) are also ready and a vote to go live is “unanimously” agreed on for Sept. 1.

Binance will disable ADA deposits and withdrawals as part of the support for the hard fork.  

Binance will support the Cardano (ADA) network upgrade and hard fork.

👉 https://t.co/P13No4FWwE

— Binance (@binance) August 30, 2024

Polygon’s MATIC to POL token swap

Also getting Binance’s support is the upcoming Polygon token migration.

The exchange will delist all MATIC trading pairs on September, 2024 at 03:00 UTC and add support for the new token with ticker POL.  New POL trading pairs will go live on September 13, 2024 at 10:00 UTC, Binance announced.

Polygon expects the MATIC to POL token swap to go live on Sept. 4. Per this earlier announcement, POL will facilitate native gas and staking fuctions on Polygon PoS before expanding to cover other network uses.