MATIC to POL and MKR to SKY: token migration
On 16 August 2026, Independent Reserve will migrate MATIC to POL and MKR to SKY, following upgrades led by Polygon and the Sky Ecosystem.
Only the MATIC to POL migration will apply to Singapore customers.
Here’s what it means for your account.
Key takeaways
- MATIC is migrating to POL, and MKR is migrating to SKY, with balances converting automatically on 16 August 2026. No action is required unless you want to migrate the tokens yourself.
- Independent Reserve customers in Singapore are only affected by the MATIC to POL migration.
- Do not deposit MATIC or MKR after 16 August. They will be delisted, deposits won’t be credited automatically, and an extraction fee may apply to recover them.
MATIC to POL
Your MATIC balance will convert to POL at a 1:1 ratio on 16 August. MATIC is currently supported only on the Ethereum network as an ERC-20 token. After the migration, POL will be supported on both the Polygon and Ethereum networks.
Read Polygon’s official migration announcement
MKR to SKY
Your MKR balance will convert to SKY at a rate of 1 MKR to 23,040 SKY on 16 August, and SKY will remain supported on the Ethereum network, the same as MKR. The MKR to SKY migration does not apply to Independent Reserve Singapore customers.
Read the Sky Ecosystem’s migration guide
FAQs
I do not want my MATIC or MKR migrated. What can I do?
Withdraw your MATIC and/or MKR to a personal wallet before 16 August. From there, you can choose to migrate to the upgraded tokens yourself.
What if I do nothing?
Independent Reserve will upgrade the tokens on your behalf. Once upgraded, you can trade or withdraw as usual.
Why is the SKY conversion rate 1:23,040?
The initial conversion rate was 1:24,000. The Sky Ecosystem Governance has since introduced a Delayed Upgrade Penalty that currently reduces the amount migrated by 4%.
Can I migrate the tokens myself?
Yes. If you withdraw your MATIC and/or MKR to a personal wallet, you can use the on-chain migration tools to do it yourself. See the links above.
If I deposit MATIC or MKR to my account before 16 August, will it be migrated?
Yes. Any MATIC or MKR held on your account on 16 August will be migrated to the new tokens.
Can I deposit MATIC or MKR after 16 August?
No. MATIC and MKR will be delisted after 16 August 2026. Deposits sent after 16 August will not be credited automatically, and an extraction fee may apply to recover them.
