About Polygon Ecosystem Token (POL)
POL is the native token upgrade within the Polygon ecosystem, tailored for diverse activities and multiple purposes. It serves as a key tool for network participation and security. By staking POL, users can actively engage as validators within the ecosystem. Similar to MATIC, POL is developed using OpenZeppelin's ERC20 standards, supports EIP-2612 for signature-based permit approvals, and thus retains many of the features present in MATIC.
The Polygon network is undergoing a major transformation with MATIC transitioning to POL. POL will take over from MATIC as the gas and staking token for the Polygon PoS (Proof of Stake) network. Although POL will initially function as the primary gas and staking token, its utility may expand over time, especially within the AggLayer, based on the Polygon community's decisions.
The shift to POL is a community-led initiative that embodies the shared vision of the Polygon ecosystem. Since its introduction in PIP-17 last year, the Polygon community has been instrumental in shaping this transition.
This migration marks a crucial phase in the development of the Polygon ecosystem, introducing significant modifications to the network's operations.
Binance will facilitate the token swap from Polygon (MATIC) to Polygon (POL). MATIC tokens will adopt the POL ticker symbol on Binance. Each MATIC token will be converted to POL at a 1:1 ratio.
POL is listed on Binance for trade and purchase. The current price of POL is available in real-time on Binance.