The wait is over!
Here’s the link to the app and smart contract to swap HEZ for MATIC tokens. In this short article, you’ll find all the information you need about the swap and a step-by-step on how to do it. Let’s jump right in!
Token Swap Details
HEZ holders can swap their HEZ for MATIC tokens using a web app https://heztomatic.hermez.io and smart contract address 0x0305c18771cD11B36DcfA610BcC8837F814746F1.
The peg was established on the 4th of August, at a ratio of 1 HEZ = 3.5 MATIC.
In an effort to be as transparent as possible and avoid speculation caused by potential information leaks, the peg (in the case a final agreement is reached), has already been established according to Bitfinex market prices listed at 11:00 CET August 4, 2021.
— Polygon Hermez (@PolygonHermez) August 4, 2021
After executing the token swap, users will receive MATIC tokens in their Ethereum account.
How to Swap HEZ for MATIC
Here’s a quick guide on how to execute the swap. Please, remember that Metamask is the only wallet supported in the swap web app.
1) Move your HEZ tokens to your Metamask wallet address.
- If you have your HEZ in the Polygon Hermez Layer 2, you’ll have to withdraw them to the Ethereum mainnet.
- If you have your HEZ in a centralized exchange, you’ll have to send them to your Metamask address in the Ethereum mainnet.
2) Once your HEZ is in your Metamask account, go to https://heztomatic.hermez.io
3) Input the amount of HEZ that you want to convert, or click the “Convert All” option.
4) Sign the approve and withdraw transactions in Metamask and wait for them to be confirmed on Ethereum. After a few minutes, you’ll receive MATIC tokens in your wallet.
We’ve prepared a video tutorial walking you through the swapping process:
Please, bear in mind that both withdrawing from Layer 2 and swapping with the smart contract are transactions that involve the Ethereum Layer 1, and therefore you’ll have to pay gas fees. We recommend doing the swap when gas fees are low.
What’s Next?
The token swap smart contract will be active for at least three years, although we may keep it there for even longer.
However, we encourage HEZ holders to swap their tokens as soon as possible, as HEZ might be delisted from centralized exchanges and other platforms in the coming weeks.
We’re currently working with the Polygon team to integrate MATIC into the Polygon Hermez zkRollup, and we’ll be developing an updated consensus mechanism.
If you have any questions about the token swap, you can ask us on Discord and Telegram. You can also follow us on Twitter for future updates and subscribe to our monthly newsletter.
You can join Polygon’s Discord and Telegram communities and follow them on Twitter.
