You are here: Home/ News/ Exciting Polygon Shift: 10B MATIC Becomes POL
Polygon designers have actually formally introduced the migration of the MATIC token to its follower, POL. After a year of extreme conversations within the neighborhood, this shift marks a turning point in the network’s journey towards ending up being a ZK (Zero-Knowledge) chain and additional incorporating with AggLayer.
The POL token, now the native gas and staking currency of the Polygon PoS chain, keeps the familiar tokenomics of MATIC, consisting of a supply cap of 10 billion tokens. Exchanges are anticipated to quickly note the updated token, boosting its availability and trading volume. For MATIC holders on the Polygon PoS chain, the migration is smooth and needs no action. Holders on Ethereum, Polygon zkEVM, or central exchanges should actively move their tokens through a devoted agreement.
An essential element of this upgrade is the 1:1 exchange ratio from MATIC to POL, with an ingenious emissions design that slowly increases by 2% over 10 years. This technique is developed to promote sustainable development, with constant benefits for validators. “This emissions design guarantees continuous rewards, drawing in brand-new validators to the network,” the blockchain highlighted in their statement.
Polygon Rebranding in Progress
POL’s intro is more than an easy rebranding. It signifies the blockchain’s wider aspirations to improve its environment. The brand-new token will play an important function in block production, zero-knowledge evidence generation, and involvement in Data Availability Committees (DACs). This growth of performance positions the network as a crucial gamer in the developing blockchain landscape.
Polygon uses 2 main scaling options, the sidechain referred to as Polygon PoS and the zero-knowledge rollup network, Polygon zkEVM. These services intend to combine liquidity and state throughout several chains, even more strengthening the network’s function in the multi-chain universe.
Initially proposed in July 2023, the POL token was formally revealed as the upgrade to MATIC on September 4, 2024. As this migration advances, it will be essential to keep track of how POL carries out in the market and how the broadened performances add to the network’s long-lasting success.