Matic Network’s Guide to ERC-20 to BEP-2 Migration

With the recent announcement of our listing and integration with Binance DEX (and its main chain), Matic Network and its community members will enjoy the benefits of additional liquidity, another trading pair, and added security and autonomy over their MATIC holdings via the BEP-2 standard. By partnering with Binance DEX, we’re excited to be spearheading the decentralized finance (DeFi) movement with a number of other forward-thinking projects in the blockchain space.

What’s the Difference between BEP-2 and ERC-20?

The Matic ERC-20 token will be pegged at a 1:1 ratio with the Matic BEP-2 token. A total of 10 billion tokens will exist simultaneously on both chains at any single time. Matic, however, does not plan to migrate a fixed number of tokens onto Binance DEX, rather we expect the supply to increase more and more as people deposit tokens onto Binance DEX.

We have implemented a 2-way bridge between the ERC-20 and BEP-2 Matic token. The bridge will be live prior to listing, and Matic will move a certain amount of tokens for initial liquidity. For our first bridge, here’s a screen-shot tutorial of how to convert one’s ERC-20 MATIC tokens to BEP-2 MATIC tokens. To initiate the ERC-20 to BEP-2 conversion process please go to https://binance-bridge.matic.network

  • Step 1 (Pictured Left) Inserting your BNB address;
  • Step 2 (Pictured Center) Transferring your ERC-20 MATIC tokens;
  • Step 3 (Pictured Right) Receiving confirmation status for the transfer

Upon confirming the token swap, your Binance DEX wallet should have an updated status as shown below:

What this means for the ERC-20 MATIC standard

The integration with the Binance Chain will be an additional option for Matic Network Community members to trade and store their MATIC tokens. One should keep in mind, however, that the ERC-20 token will still hold majority token supply amongst other officially listed exchanges (i.e. Binance CEX, BitMax, Dcoin, BitForex, Hotbit, TOKOK, Bilaxy, IDEX, WazirX, & BiteBTC).

If you have any questions regarding the ERC-20 to BEP-2 token swap, please ask one of the moderators in ourTelegram room.

More from the Polygon Blog
Introducing Plonky2

Polygon Zero’s mission is simple: to use zero-knowledge proofs to scale Ethereum to a billion users, without compromising decentralization or security. Achieving this requires fast and efficient proof systems. Today, we’re excited to share Plonky2, a major milestone for zero-knowledge cryptography. Plonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively […]

Read More
Polygon Takes A Major Lead In ZK Rollups; Welcomes Mir, A Groundbreaking ZK Startup In A $400M Deal

TL;DR: We are excited to announce that Mir, a startup building groundbreaking ZK tech, is joining the Polygon family in a $400M* deal. Mir gathered a team of talented cryptographers and engineers, and after almost two years of work developed the world’s fastest ZK scaling technology. The Mir team is now joining Polygon in order […]

Read More
Polygon Announces Polygon Miden - A STARK-Based, Ethereum-Compatible Rollup

TL;DR: We are excited to announce the newest member of the Polygon solution suite - Polygon Miden, an upcoming STARK-based, EVM-compatible rollup. The project is led by Bobbin Threadbare, former Facebook’s core ZK researcher who led the development of Winterfell. Today we are releasing Polygon Miden’s core component - Miden VM, the first open-source STARK-based […]

Read More
Why Web3 Developers Are Choosing Polygon Over Other Solutions 

When it comes to deploying on Ethereum, there is only one place that lets developers easily migrate their projects, offers a broad range of scaling options and has some of the industry’s lowest transaction rates. These are just some of the reasons why the number of teams using Polygon jumped 100-fold in the past year. […]

Read More
Polygon’s Breakthrough Year: 2021 in Review

Welcome to 2022! This is shaping up to be another amazing year for the Polygon ecosystem. But after an absolutely breakthrough 2021, it's got big shoes to fill. Over the past year, Polygon made big strides toward accomplishing its mission of bringing the next billion users to Ethereum. The network’s low-fee infrastructure attracted some of […]

Read More
All You Need to Know About the Recent Network Upgrade

Earlier this month, Polygon’s core development team with help from bug bounty  platform Immunefi successfully fixed a critical network vulnerability. Considering the nature of this upgrade, it had to be executed without attracting too much attention. We are now ready to give the full account of what happened. A group of whitehat hackers notified Immunefi, […]

Read More
crossmenuchevron-down-circle