Why have so many platforms delisted Polygon tokens?

Pejoh Asu

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

A few days ago I sent an automatic in Coinbase but they also did not provide a polygon network, but only used the ERC20 network or became a token, I thought this was because of a very cheap transaction fee so Exchanges did not want to use the automatic network.

Pierre 2

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I exactly don't know why some exchanges delist Polygon network as option although last time I checked cheapest way to send USDT was BEP20 Binance smart Chain network. Its far more popular as I can see so if don't wanna use Ethereum Blockchain you can prefer BEP20 always. Its hard for me to trust anything besides 3 biggest Blockchain networks. I still can't forget what happened to Solana's chain.

vanesha

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they don't seem to be removing it just some exchanges prefer to disable the polygon network temporarily to get a stable network here. it's possible that polygons are in further development that only the internal team knows so they prefer to temporarily disable the polygon network.

asyakashi

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some exchanges may be customizing or maintaining the Polygon network. I don't think there is a problem with the Polygon network itself. Some exchanges do close access to transactions with the Polygon network but that doesn't mean the project is problematic. For the time being it's better to use ethereum because the cost is now quite cheap.

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Quote from: Jackl87 on September 25, 2022, 06:09:39 PM

Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

Hmm. This news are completely new to me as i have never heard before that a lot of exchanges are delisting polygon based tokens or stablecoins. The only thing of that direction that i heard was a few weeks ago when Binance announced that they would delist USDC and i think also other stablecoins. This had nothing to do with the polygon chain though. This was just a move to make the people use BUSD more, because that is the stablecoin that is minted and controlled by Binance itself so they are just using their market power in order to push their own stablecoin.
I think everything is alright with polygon and you don't need to worry.

i'm waiting for him to come back to his thread to provide more information, can see that no one can find the information OP is talking about, can't say exactly what problem he is having. the issue of delisting usdc and other stable coins was announced by binance 2 weeks ago and it has nothing to do with the polygon he said. it makes me wonder if he is creating a FUD in order to create fear and anxiety as he doesn't provide any links or proof as to what he is saying

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Just like others, I haven't found any article and stories about the delisting of polygon tokens on an exchange, Even small exchanges will make a news about it given that they can take a chance in making themselves on headline for a while but no one have did it. I think OP might have seen a maintenance or the exchange is fixing some problems regaeding polygon just like what binance is doing when there's a certain problem or a very very heavy traffic just like what they did on LUNA.

Jackl87

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

Hmm. This news are completely new to me as i have never heard before that a lot of exchanges are delisting polygon based tokens or stablecoins. The only thing of that direction that i heard was a few weeks ago when Binance announced that they would delist USDC and i think also other stablecoins. This had nothing to do with the polygon chain though. This was just a move to make the people use BUSD more, because that is the stablecoin that is minted and controlled by Binance itself so they are just using their market power in order to push their own stablecoin.
I think everything is alright with polygon and you don't need to worry.

Baofeng

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Binance for once has been delisting/listing Polygon for the last couple of months.

https://www.binance.com/en/support/announcement/ffa74b47e870477a80deacee1fcab727

And probably the same reasons as others, there is a network issues so they have to delist them temporarily.

Perhaps they are also doing some schedule maintenance and upgrades, the usual for any projects. And in any case, there will be a announcement if ever there is a permanent delisting by exchanges to give time for users to withdraw or move their funds around.

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

it's my first time hearing this if possible can you list which platform delisted polygon tokens?
because i try to search for any info regarding this but i don't see any platform doing this

Delisting is usually announced by exchanges a few days in advance and I haven't found any kind of news about this yet. As Polygon is one of the big chains in the market, I think that if anything goes wrong, the news will spread very quickly on the forums or social media channels of the market.
It is a shame that he is confusing everyone, I also checked the exchanges I'm using and didn't see any change as OP said. Hope he comes back and gives us more information.

MAAManda

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TBH, fee isn't the matter at all. According explorer data, i saw that arbitrum is having higher fee on swapping assets compare to etheruem. For example, arbitrum costs around $5 for swapping where ethereum only costs less than $3 after the merge . So it doesn't mean, arbitrum or other L2 will loss the position in crypto market. Talking about polygon, they already made huge partnership in recent time and it could make ATH if they continue the hard like current time, IMHO. Also it's best to have diversity in smart contract platforms. Wink

The Merge just happened, it might take us a little longer to see its impact on the whole of L2. Sorry in advance, but I think this discussion will be really OOT if we continue, it's better if we finish the discussion regarding fees, The Merge and price predictions.

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

Some tokens in the Polygon ecosystem are not available for listing on the exchange. I change the required tokens for Polygon on de-centralized exchanges, and then change Polygon on centralized exchanges if necessary. The crediting of coins is fast and the losses on the fall of the price are minimal

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Quote from: nakamura12 on September 24, 2022, 12:24:32 PM

Quote from: smartaction on September 24, 2022, 11:40:38 AM

Maybe from op exchange they was temporarily suspend polygon network for maintenance or solve some instant problems. but it was not a permanent suspending. and maybe op don’t understand it and ask here a question like this. hope op exchange now again opened polygon network withdrawals. op should confirm it here now.

If there's a maintenance going on then why would they remove polygon when they can simply suspend withdrawal and deposit like many changes do. If they remove polygon then they would have to add it again if it is temporary. We don't know the reason why many exchanges remove polygon and as I have said that many exchanges only suspended withdrawal and deposit for a certain crypto if there's a maintenance going on rather than removing the crypto.

I believe it was only maintenance purpose and suspend withdrawal and deposit for whole. polygon is still a good chain and charge a little gas fees and this network still very popular and crypto users like to withdraw many token on polygon network to avoid extra gas fees. so there are no any purpose to delist polygon network from exchangers

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

If you mention the names of some of the exchangers that have delisted, we will have a better understanding of which most of the exchangers have delisted it. But currently I see in all top exchangers still polygon is listed. But it can be happen with your exchangers for their maintenance on polygon network may there can be more cause for it . But I don't we have worry about it so much polygon still have reliable and potential market.

nakamura12

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Quote from: smartaction on September 24, 2022, 11:40:38 AM

Maybe from op exchange they was temporarily suspend polygon network for maintenance or solve some instant problems. but it was not a permanent suspending. and maybe op don’t understand it and ask here a question like this. hope op exchange now again opened polygon network withdrawals. op should confirm it here now.

If there's a maintenance going on then why would they remove polygon when they can simply suspend withdrawal and deposit like many changes do. If they remove polygon then they would have to add it again if it is temporary. We don't know the reason why many exchanges remove polygon and as I have said that many exchanges only suspended withdrawal and deposit for a certain crypto if there's a maintenance going on rather than removing the crypto.

smartaction

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Quote from: OgNasty on September 23, 2022, 02:24:12 PM

Quote from: smartaction on September 23, 2022, 12:54:31 PM

Quote from: ryzaadit on September 23, 2022, 12:46:12 PM

Which one? give some examples.

I check most of my stablecoin is still being listed in every exchange, by the way a bridge transaction is now really low. Even, the wallet polygon on exchange have some maintenance. If I want to transaction mys stable coin on polygon, just bridge the token to other chain "ETH/BSC".

But so far, don't have any problem with polygon network.

I also not found any exchange like op story . i have withdrawal stablecoin USDT in polygon from Binance and MEXC just in a couple hour and all is working as well. i didn’t face any problem with my withdrawal in polygon network . i didn’t think they have any problem with Polygon network yet.

Same here. This is the first I've heard of exchanges delisting Polygon assets. Can you give an example OP? I'm not sure we're all on the same page. When I first saw your topic I thought maybe some exchanges were delisting MATIC, but now it seems like maybe some scam stablecoin is what you're referring to? In any event, some examples would be nice so we can understand what it is you're trying to say. Also, investing in stablecoins isn't smart. I thought the Luna fiasco would have cleared that market out. Anything offering 20%+ yield is most likely going to take your money at some point. There are no shortcuts.

Maybe from op exchange they was temporarily suspend polygon network for maintenance or solve some instant problems. but it was not a permanent suspending. and maybe op don’t understand it and ask here a question like this. hope op exchange now again opened polygon network withdrawals. op should confirm it here now.

Psynthax

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most coins are still getting listed, ethereum merge doesn't change a thing it's more or less still the same eth i think even the value of eth right now is decreasing so much.
it could be only some maintenance coming from the exchange that you used otherwise I doubt they gonna just delist coin from polygon like that because that'll decrease their user coverage which is bad business decision.

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

I don't really know about the exchange you are talking about maybe you will have to tell us what exchange delisted polygon tokens including stablecoins and input Ethereum tokens instead which is very strange to me. Polygon is a cheap and affordable network for all users and an exchange can not totally delist it without a prompt problem users might have been having do far.

JeffBrad12

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I think that isn't true, most coins that are in polygon still getting listed by the famous exchange maybe you're using lesser famous exchange, moreover if that's really true that could be a business decision coming from the exchange itself maybe they think it's just more efficient only accepting coin from eth alone, but then again i think that doesn't make sense at all since matic and eth is like very similar, however you could just move over to better exchange if that's true.

goaldigger

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There are reason why exchanges delisting a coin/token probably if Polygon got delisted on the exchange you are using, it might not be qualified anymore to be on that site. But seriously how many exchanges already delisted Polygon as stablecoin? I didn’t see any exchange yet and as per checking right now Polygon are still listed on top exchanges.

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Quote from: Husires on September 23, 2022, 06:29:14 AM

Due to low fees I used to keep stablecoins and some other tokens in the Polygon network, but in the past few days, most of the exchanges de listed these stablecoins or tokens on the Polygon network and only accept deposit and withdrawal to Ethereum network

One of the major reasons why exchanges are delisting tokens is their volume. Probably your token volume that is on that exchange does not have enough volume to meet the exchange's daily requirements. It is normal for the SOP of exchanges to remove tokens of any network if they failed to comply with the required trading volume.

Quote from: OgNasty on September 23, 2022, 02:24:12 PM

Same here. This is the first I've heard of exchanges delisting Polygon assets. Can you give an example OP? I'm not sure we're all on the same page. When I first saw your topic I thought maybe some exchanges were delisting MATIC, but now it seems like maybe some scam stablecoin is what you're referring to? In any event, some examples would be nice so we can understand what it is you're trying to say. Also, investing in stablecoins isn't smart. I thought the Luna fiasco would have cleared that market out. Anything offering 20%+ yield is most likely going to take your money at some point. There are no shortcuts.

Same here, I also thought of that Exchanges are delisting Polygon and all the tokens in its network but found out it is fake news. So I think that OP's token is something that is created on the Polygon network and does not have enough volume to meet the requirement of the exchange and thus got delisted.

Topic: Why have so many platforms delisted Polygon tokens? (Read 208 times)