The Polygon team announced via Twitter on Tuesday that they would discontinue the MATIC BEP2 on BNB Beacon Chain on March 31st. Users who hold BEP2 MATIC are advised to move the tokens to Binance and withdraw MATIC on Ethereum, Polygon or BSC. All BEP2 MATIC will be burned when all users are done swapping, the team added.
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC is up by 1% in the last 24 hours and is currently trading at $0.8587.