{"id":16429,"date":"2022-01-12T12:49:47","date_gmt":"2022-01-12T11:49:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=16429"},"modified":"2022-01-12T12:49:55","modified_gmt":"2022-01-12T11:49:55","slug":"london-hard-fork-arrives-on-polygon-as-network-declares-date-for-mainnet-launch","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/london-hard-fork-arrives-on-polygon-as-network-declares-date-for-mainnet-launch\/","title":{"rendered":"London Hard Fork Arrives on Polygon as Network Declares Date for Mainnet Launch"},"content":{"rendered":"\n
The London hard fork, or EIP-1559, finally arrives on Polygon<\/a> as the network announces that on Tuesday, January 18, 2022, at 8:00 a.m. (UTC), 3:00 a.m. (EDT) (ET), the mainnet will be launched.<\/h5>\n\n\n\n
\"London
London Hard Fork Arrives on Polygon as Network Declares Date for Mainnet Launch<\/figcaption><\/figure>\n\n\n\n

Date for London Hard Fork Mainnet Launch<\/h2>\n\n\n\n

The London hard fork is expected to appear on the Polygon mainnet in 5 days and 15 hours, or 222,454 blocks, according to Polygonscan\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. <\/p>\n\n\n\n

When block 23,850,000 is validated, the London hard fork, or EIP-1559, will be activated. This gives us Tuesday, January 18, 2022, at 8:00 a.m. (UTC)\/3:00 a.m. (EDT) (ET).<\/p>\n\n\n\n

“After the successful EIP-1559 upgrade on Mumbai testnet last year, the much-awaited London hard fork on Mainnet is here!” reports the Polygon network in a recent Twitter feed.<\/p>\n\n\n\n

After the successful EIP-1559 upgrade on Mumbai Testnet last year, the much-awaited London Hardfork on Mainnet is here!#EIP1559<\/use><\/svg><\/span><\/a>\u00a0and related EIPs will be activated on the Mainnet on 18th Jan around 3 AM ET \/ 8 AM UTC.

Find out more:\u00a0https:\/\/t.co\/TgZQtbCO98<\/use><\/svg><\/span><\/a>\u00a0https:\/\/t.co\/dZ97nTUNTO<\/use><\/svg><\/span><\/a><\/p> Polygon | $MATIC \ud83d\udc9c (@0xPolygon)\u00a0January 11, 2022<\/use><\/svg><\/span><\/a> <\/cite><\/blockquote>\n\n\n\n

Polygon brought up a testnet implementation<\/use><\/svg><\/span><\/a> of Ethereum Improvement Proposal 1559 on the Mumbai testnet in December 2021, using cues from Ethereum, to offer the burning of its native MATIC token and enhanced fee visibility.<\/p>\n\n\n\n

On Aug. 5, 2021, Ethereum, the second-largest cryptocurrency, had a substantial upgrade known as the “London Hard Fork.” EIP-1559, which aims to reform the transaction fee market, as well as modifications to how gas refunds are handled, were introduced as part of the London upgrade.<\/p>\n\n\n\n

Because Polygon MATIC has a fixed quantity of 10 billion tokens, any drop in the number of access tokens might cause deflation, as a yearly burn would account for 0.27 percent of the entire MATIC supply.<\/p>\n\n\n\n

A Total of 150 million BEP2 Tokens will be Burnt<\/h2>\n\n\n\n

Following the demise of the BEP2 tokens, the Polygon network<\/use><\/svg><\/span><\/a> claims that all BEP2 MATIC will be burnt once all users have finished swapping their tokens to ERC-20.<\/p>\n\n\n\n

As a user, If you hold MATIC on Ethereum, Polygon PoS chain or BSC or on Binance, no action is required.<\/p>

If you hold BEP2 MATIC please move them to Binance and withdraw MATIC on Ethereum, Polygon or BSC.<\/p>

All BEP2 MATIC will be burned when all users are done swapping.<\/p>

2\/2<\/p>Polygon | $MATIC \ud83d\udc9c (@0xPolygon)\u00a0January 11, 2022<\/use><\/svg><\/span><\/a><\/cite><\/blockquote>\n\n\n\n

The move was made in conjunction with Binance Exchange due to low utilization, according to the network. <\/p>\n\n\n\n

The 150 million BEP2 that MATIC provided for Binance Chain liquidity in 2019 will be swapped for ERC20 MATIC from the Foundation Wallet at 11:00 GMT on Jan. 12 and then burned, according to the announcement.<\/p>\n\n\n\n

As of press time, MATIC, the Polygon blockchain's native asset, is trading at $2.33.<\/p>\n","protected":false},"excerpt":{"rendered":"

The London hard fork, or EIP-1559, finally arrives on Polygon as the network announces that on Tuesday, January 18, 2022, at 8:00 a.m. (UTC), 3:00 a.m. (EDT) (ET), the mainnet will be launched. Date for London Hard Fork Mainnet Launch The London hard fork is expected to appear on the Polygon mainnet in 5 days […]<\/p>\n","protected":false},"author":29,"featured_media":16430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6493,6492],"class_list":["post-16429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-london-hard-fork-2","tag-polygon-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/01\/London-Hard-Fork-Arrives-on-Polygon-as-Network-Declares-Date-for-Mainnet-Launch.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/16429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=16429"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/16429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/16430"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=16429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=16429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=16429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}