AggLayer
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Polygon announces $MATIC to $POLĀ migration upgrade
The technical upgrade from $MATICĀ to $POLĀ will enhance utility and align with the vision of #Polygon as an aggregated network of blockchains. The initial phase of the migration will see #POL replacing #MATIC as the native gas and staking token for the Polygon PoS network. In later phases, $POLĀ will play a crucial role in the #AggLayer , a system designed to aggregate multiple blockchains into a single, cohesive system.
š x.com/0xPolygon/status/1831097340482166908
The technical upgrade from $MATICĀ to $POLĀ will enhance utility and align with the vision of #Polygon as an aggregated network of blockchains. The initial phase of the migration will see #POL replacing #MATIC as the native gas and staking token for the Polygon PoS network. In later phases, $POLĀ will play a crucial role in the #AggLayer , a system designed to aggregate multiple blockchains into a single, cohesive system.
š x.com/0xPolygon/status/1831097340482166908
Polygon will launch AggLayer in February. š£
Polygon Labs is on the brink of revolutionizing blockchain connectivity with the upcoming release of AggLayer, a groundbreaking solution that takes center stage in the evolution of Polygon 2.0. This pivotal component is designed to seamlessly connect blockchains and foster unified liquidity, offering a host of key features and innovations.
At the core of this development is the introduction of AggLayer, a blockchain aggregation layer with a singular focus on unifying liquidity across diverse chains. Scheduled for release in February, AggLayer empowers developers with a robust tool to effortlessly connect blockchains, creating an ecosystem that transcends individual chain boundaries.
AggLayer sets itself apart by leveraging Zero Knowledge Proofs (ZK Proofs) to construct an aggregated environment. This unique approach ensures a unified experience while respecting the sovereignty of each chain within the interconnected ecosystem. Security remains paramount, addressing challenges in maintaining uniform security across both modular and monolithic chains.
As a critical component of Polygon 2.0, AggLayer integrates seamlessly with various Layer 2 networks. The CDK Toolkit Integration facilitates connections with networks like Immutable, OKX, Astar, Canto, Palm Network, Aavegotchi, and IDEX, all developed using Polygon's CDK toolkit. This strategic integration propels Polygon towards a comprehensive interoperability solution.
AggLayer aspires to create a seamless, aggregated environment, akin to a single chain, while accommodating the diversity of connected chains. This innovative approach ensures a user experience that feels unified and cohesive, irrespective of the underlying blockchain technology.
Beyond AggLayer, Polygon Labs reaffirms its commitment to enhancing the Polygon network. Previously announced initiatives, such as a staking layer for the ecosystem, underscore the ongoing dedication to pushing the boundaries of what Polygon can achieve.
#Polygon #MATIC #POL #AggLayer
Polygon Labs is on the brink of revolutionizing blockchain connectivity with the upcoming release of AggLayer, a groundbreaking solution that takes center stage in the evolution of Polygon 2.0. This pivotal component is designed to seamlessly connect blockchains and foster unified liquidity, offering a host of key features and innovations.
At the core of this development is the introduction of AggLayer, a blockchain aggregation layer with a singular focus on unifying liquidity across diverse chains. Scheduled for release in February, AggLayer empowers developers with a robust tool to effortlessly connect blockchains, creating an ecosystem that transcends individual chain boundaries.
AggLayer sets itself apart by leveraging Zero Knowledge Proofs (ZK Proofs) to construct an aggregated environment. This unique approach ensures a unified experience while respecting the sovereignty of each chain within the interconnected ecosystem. Security remains paramount, addressing challenges in maintaining uniform security across both modular and monolithic chains.
As a critical component of Polygon 2.0, AggLayer integrates seamlessly with various Layer 2 networks. The CDK Toolkit Integration facilitates connections with networks like Immutable, OKX, Astar, Canto, Palm Network, Aavegotchi, and IDEX, all developed using Polygon's CDK toolkit. This strategic integration propels Polygon towards a comprehensive interoperability solution.
AggLayer aspires to create a seamless, aggregated environment, akin to a single chain, while accommodating the diversity of connected chains. This innovative approach ensures a user experience that feels unified and cohesive, irrespective of the underlying blockchain technology.
Beyond AggLayer, Polygon Labs reaffirms its commitment to enhancing the Polygon network. Previously announced initiatives, such as a staking layer for the ecosystem, underscore the ongoing dedication to pushing the boundaries of what Polygon can achieve.
#Polygon #MATIC #POL #AggLayer
via Punk9277 on X
Doing a bit of a weekend reading and ended up buying a deep bag of #MATIC. Crazy how everything seems to align while the coin being extremely under the radar
- shiny new coin: #POL transition finally scheduled for sometime this month/next (!) while most Iāve spoken to have forgotten about this. What are some precedents? $BEAM/$MC 10x, $AEVO/$RBN 4x, $MNT/BIT 2x
- new narrative: AggLayer V1 just out (fatest horse in this race), with final state targetting Q2 which unifies liquidities across L2s and marks a game-changer in terms of liquidity fragmentation
- trough sentiment: hard to think of another coin that is as hated as the current $MATIC . When things are perceived this bearish, there usually comes a hated rally at some point. Whoās the incremental seller from here?
- newly aligned team: most took their recent restructuring as a confirmation of a downfall but failed to recognize the rebirth of a more aligned (pay rise across the board) and nimble team. This reminds me of $Metaās major restructuring merely 10 months ago - stock up a whopping ~300% since then from $180 to $475, one of the best performers in Nasdaq
- EIP-4844: simply free optionality to me, as no one associates $MATIC with it, despite them being as much of a beneficiary as $ARB/$OP
- ZK: among the major narratives, ZK has lost the most mindshare since last year (no hype at all). Interestingly though this has finally bottomed and inflected (based on @_kaitoaiās data).
As weāve seen over and over again, in this market, narrative, mindshare/sentiment, catalyst and price actions come in full circle. As all stars seem to align at once, one can certainly imagine a scenario where
- a new token ( #POL ) draws incremental mindshare ā
initial price actions
š
Ā ā
- people doing more work understanding the #AggLayer roadmap, its profound implications and @0xPolygon's tech leadership ā
- further discussions and mindshare rotations ā
- further price actions
š
Doing a bit of a weekend reading and ended up buying a deep bag of #MATIC. Crazy how everything seems to align while the coin being extremely under the radar
- shiny new coin: #POL transition finally scheduled for sometime this month/next (!) while most Iāve spoken to have forgotten about this. What are some precedents? $BEAM/$MC 10x, $AEVO/$RBN 4x, $MNT/BIT 2x
- new narrative: AggLayer V1 just out (fatest horse in this race), with final state targetting Q2 which unifies liquidities across L2s and marks a game-changer in terms of liquidity fragmentation
- trough sentiment: hard to think of another coin that is as hated as the current $MATIC . When things are perceived this bearish, there usually comes a hated rally at some point. Whoās the incremental seller from here?
- newly aligned team: most took their recent restructuring as a confirmation of a downfall but failed to recognize the rebirth of a more aligned (pay rise across the board) and nimble team. This reminds me of $Metaās major restructuring merely 10 months ago - stock up a whopping ~300% since then from $180 to $475, one of the best performers in Nasdaq
- EIP-4844: simply free optionality to me, as no one associates $MATIC with it, despite them being as much of a beneficiary as $ARB/$OP
- ZK: among the major narratives, ZK has lost the most mindshare since last year (no hype at all). Interestingly though this has finally bottomed and inflected (based on @_kaitoaiās data).
As weāve seen over and over again, in this market, narrative, mindshare/sentiment, catalyst and price actions come in full circle. As all stars seem to align at once, one can certainly imagine a scenario where
- a new token ( #POL ) draws incremental mindshare ā
initial price actions
š
Ā ā
- people doing more work understanding the #AggLayer roadmap, its profound implications and @0xPolygon's tech leadership ā
- further discussions and mindshare rotations ā
- further price actions
š
The Bridged USDC Standard, designed by Circle, is now integrated with Polygon CDK (Chain Development Kit), making it the first chain dev kit to do so.
This integration enables future upgradability to native USDC on CDK-built chains, which will improve user experience and provide unified liquidity through AggLayer.
#USDC #Circle #polygon #AggLayer #PolygonEvolution
This integration enables future upgradability to native USDC on CDK-built chains, which will improve user experience and provide unified liquidity through AggLayer.
#USDC #Circle #polygon #AggLayer #PolygonEvolution
#Polygon 's #AggLayer has integrated #MoveVM solutions from Movement Labs, combining liquidity and users from various blockchains, including Move and #Ethereum .
Polygon has also announced the rebranding of its token from $MATIC to POL, which will be used for gas and staking. The update will take place on September 4.
Polygon is confidently moving towards a more interconnected and efficient blockchain landscape. š
Polygon has also announced the rebranding of its token from $MATIC to POL, which will be used for gas and staking. The update will take place on September 4.
Polygon is confidently moving towards a more interconnected and efficient blockchain landscape. š
Movement Labs and The Polygon Labās AggLayer Integration
@Movement Labs is at the forefront of blockchain innovation creating a robust ecosystem of MoveVM-based Layer 2 (L2) solutions. As a #PolygonHUB social miner on @DAO Labs #SocialMining ecosystem, I find their recent partnership with @Polygon Labs $MATIC
#AggLayer exciting. It will be great to also see #MovementLabs leverage on the features #DAOLabs offers to further broaden their ecosystem.
It is worthy of note that, Movement labs is backed by notable brands in the crypto space like @Binance Labs and OKX Ventures indicating it has drawn intense attention. The project also secured a funding of about $38 Million (led by Polychain Capital) early in April 2024 which is geared towards enhancing Ethereumās smart contract security and parallelization, which may impact future outlooks on the blockchain industry.
Recently, news broke out that Movement Labs secured partnership with Polygon Labs that allows them to integrate their technology into AggLayer, which acts as a one-stop shop for liquidity and community across different L2 chains in a seamless manner. This is of particular significance as it enhances scalability and security on blockchainsā networks thereby making them more efficient for users.
Movement Labsā core innovation remains in utilizing Move programming language that provides an avenue for smart contract development in an entirely different way. Contrarily to the conventional coding languages, Move is designed to be more secure as well as flexible leading to the creation of complex yet very secure decentralized applications (dApps). Thus this makes it a good fit for Ethereum owing to an increasing need for safe and scalable smart contracts.
A major part of the strategy for Movement Labs is to create a rollup solution, which is a type of L2 technology that processes transactions off-chain before they are sent to the Ethereum mainnet. In addition, this not only helps to relieve congestion on the mainnet but it also reduces transaction fees, therefore making Ethereum more affordable and accessible to many people. Move makes it possible to achieve better parallelization in this case and hence, there can be more than one transaction at the same time being processed thereby improving efficiency.
Building up a strong support base around their technology is another area of focus for Movement Labs. The Parthenon Testnet was launched by them as a test bed where developers can play around with Move based apps prior moving them on mainnet. Such initiatives form part of wider efforts aimed at encouraging blockchain community collaboration and innovation. If they add DAOLabs social mining options to further broaden their support base, they will be unstoppable.
Movement Labsā partnership with AggLayer of Polygon is yet another strategic move towards its goal of fostering an interconnected and fluid blockchain ecosystem. Through the integration of AggLayer into its L2 solutions, Movement Labs seeks to eliminate existing barriers among different blockchains that allow for smooth communication and movement of assets from one platform to another effortlessly.
In summary, Movement Labs has ushered in a new era of blockchain technology by developing MoveVM-based L2 solutions. By focusing on smart contract security, parallelization, and community building, this company is likely to play a significant role in decentralized finance (DeFi) as well as blockchain development going forward. The recent Agglayer partnerships and funding rounds demonstrate the confidence that the industry has in Movement Labsā vision and its potential to reformulate the whole space of Blockchain. It will be interesting to watch how Movement Labs incorporate themselves into the larger picture regarding the evolution of Blockchain as this project proceeds forward.
#AggLayer exciting. It will be great to also see #MovementLabs leverage on the features #DAOLabs offers to further broaden their ecosystem.
It is worthy of note that, Movement labs is backed by notable brands in the crypto space like @Binance Labs and OKX Ventures indicating it has drawn intense attention. The project also secured a funding of about $38 Million (led by Polychain Capital) early in April 2024 which is geared towards enhancing Ethereumās smart contract security and parallelization, which may impact future outlooks on the blockchain industry.
Recently, news broke out that Movement Labs secured partnership with Polygon Labs that allows them to integrate their technology into AggLayer, which acts as a one-stop shop for liquidity and community across different L2 chains in a seamless manner. This is of particular significance as it enhances scalability and security on blockchainsā networks thereby making them more efficient for users.
Movement Labsā core innovation remains in utilizing Move programming language that provides an avenue for smart contract development in an entirely different way. Contrarily to the conventional coding languages, Move is designed to be more secure as well as flexible leading to the creation of complex yet very secure decentralized applications (dApps). Thus this makes it a good fit for Ethereum owing to an increasing need for safe and scalable smart contracts.
A major part of the strategy for Movement Labs is to create a rollup solution, which is a type of L2 technology that processes transactions off-chain before they are sent to the Ethereum mainnet. In addition, this not only helps to relieve congestion on the mainnet but it also reduces transaction fees, therefore making Ethereum more affordable and accessible to many people. Move makes it possible to achieve better parallelization in this case and hence, there can be more than one transaction at the same time being processed thereby improving efficiency.
Building up a strong support base around their technology is another area of focus for Movement Labs. The Parthenon Testnet was launched by them as a test bed where developers can play around with Move based apps prior moving them on mainnet. Such initiatives form part of wider efforts aimed at encouraging blockchain community collaboration and innovation. If they add DAOLabs social mining options to further broaden their support base, they will be unstoppable.
Movement Labsā partnership with AggLayer of Polygon is yet another strategic move towards its goal of fostering an interconnected and fluid blockchain ecosystem. Through the integration of AggLayer into its L2 solutions, Movement Labs seeks to eliminate existing barriers among different blockchains that allow for smooth communication and movement of assets from one platform to another effortlessly.
In summary, Movement Labs has ushered in a new era of blockchain technology by developing MoveVM-based L2 solutions. By focusing on smart contract security, parallelization, and community building, this company is likely to play a significant role in decentralized finance (DeFi) as well as blockchain development going forward. The recent Agglayer partnerships and funding rounds demonstrate the confidence that the industry has in Movement Labsā vision and its potential to reformulate the whole space of Blockchain. It will be interesting to watch how Movement Labs incorporate themselves into the larger picture regarding the evolution of Blockchain as this project proceeds forward.
Movement Labs and the New Era of Blockchain Liquidity: Unifying the Move and Polygon Ecosystems
In the ever-evolving landscape of blockchain technology, uniting fragmented ecosystems is crucial for driving innovation, growth, and adoption. As a #PolygonHub social miner @DAO Labs #SocialMining i understand the transformative power of collaboration and community-driven progress.
Today, I am excited to spotlight a groundbreaking partnership that echoes our core values: the integration of @Movement Labs a leading blockchain technology aiming to build the first Layer 2 blockchain on @Ethereum $ETH using the Move language with @Polygon $MATIC #AggLayer
Movement Labs has long been at the forefront of advancing the Move programming language, known for its unique capabilities in enabling parallelized execution and fostering developer efficiency. The Move language has already found a strong foothold in other ecosystems, such as $SUI Move and $APT Move. Now, @Movement Labs is poised to take this innovation a step further by integrating its MoveVM-based Layer 2 (L2) chains with #Polygon's #AggLayer .
This integration marks a significant milestone in blockchain interoperability. By joining the #AggLayer , Movement Labs' ecosystem will bring substantial liquidity and a vibrant community into the Polygon network. This move is not just about connecting chainsāit's about unifying liquidity across diverse ecosystems, creating a seamless experience for developers and users alike.
The Power of the AggLayer
The AggLayer is built on a principle that resonates deeply with our values at @DAO Labs the idea that diverse ecosystems can be more powerful when united. The #AggLayer enables diverse blockchain ecosystems to connect securely without rigid structures. By integrating with the AggLayer, @Movement Labs bridges the Move and @Ethereum ecosystems, allowing MoveVM developers to access @Polygon liquidity and user base without modifying their Solidity contracts. This integration opens new opportunities for innovation and growth in the blockchain space.
The integration is further bolstered by the success of @Movement Labs testnet, which has already attracted $160 million in committed Total Value Locked (TVL). This overwhelming demand underscores the potential of Movement Labs' Rollup-as-a-Service platform, which enables developers to deploy parallelizable appchains with ease.
With the Move Stack, a rollup kit for designing and launching MoveVM chains, @Movement Labs is setting a new standard for blockchain efficiency and speed. The ability to parallelize execution means that these chains are not only faster but also more scalable, providing a solid foundation for future growth.
Conclusion
@Movement Labs is not just paving the way for technological advancement but also creating a more connected and dynamic blockchain environment. By integrating significant liquidity into Polygon #AggLayer and expanding the Move-based ecosystem, we are taking bold steps towards a more interoperable and secure blockchain future.
Today, I am excited to spotlight a groundbreaking partnership that echoes our core values: the integration of @Movement Labs a leading blockchain technology aiming to build the first Layer 2 blockchain on @Ethereum $ETH using the Move language with @Polygon $MATIC #AggLayer
Movement Labs has long been at the forefront of advancing the Move programming language, known for its unique capabilities in enabling parallelized execution and fostering developer efficiency. The Move language has already found a strong foothold in other ecosystems, such as $SUI Move and $APT Move. Now, @Movement Labs is poised to take this innovation a step further by integrating its MoveVM-based Layer 2 (L2) chains with #Polygon's #AggLayer .
This integration marks a significant milestone in blockchain interoperability. By joining the #AggLayer , Movement Labs' ecosystem will bring substantial liquidity and a vibrant community into the Polygon network. This move is not just about connecting chainsāit's about unifying liquidity across diverse ecosystems, creating a seamless experience for developers and users alike.
The Power of the AggLayer
The AggLayer is built on a principle that resonates deeply with our values at @DAO Labs the idea that diverse ecosystems can be more powerful when united. The #AggLayer enables diverse blockchain ecosystems to connect securely without rigid structures. By integrating with the AggLayer, @Movement Labs bridges the Move and @Ethereum ecosystems, allowing MoveVM developers to access @Polygon liquidity and user base without modifying their Solidity contracts. This integration opens new opportunities for innovation and growth in the blockchain space.
The integration is further bolstered by the success of @Movement Labs testnet, which has already attracted $160 million in committed Total Value Locked (TVL). This overwhelming demand underscores the potential of Movement Labs' Rollup-as-a-Service platform, which enables developers to deploy parallelizable appchains with ease.
With the Move Stack, a rollup kit for designing and launching MoveVM chains, @Movement Labs is setting a new standard for blockchain efficiency and speed. The ability to parallelize execution means that these chains are not only faster but also more scalable, providing a solid foundation for future growth.
Conclusion
@Movement Labs is not just paving the way for technological advancement but also creating a more connected and dynamic blockchain environment. By integrating significant liquidity into Polygon #AggLayer and expanding the Move-based ecosystem, we are taking bold steps towards a more interoperable and secure blockchain future.
The POL Upgrade: A New Era for Polygon
On September 4th, 2024, the @Polygon ecosystem is set to undergo a significant transformation with the long-awaited upgrade from $MATIC
to $POL tokens. This upgrade represents a pivotal moment in #Polygon's evolution, reflecting the network's growth and community driven vision for the future. This gladdens my heart as a member of the #PolygonHub
It is worthy of note that the #POL upgrade is a community-driven initiative to replace #MATICā as the native gas and staking token for the Polygon Proof-of-Stake (PoS) network. POL is designed to be a hyperproductive token with expanded utility, capable of providing valuable services across the entire Polygon network, including the upcoming #AggLayer This upgrade aligns with Polygon's vision of becoming an aggregated blockchain network, offering a more versatile and future-proof native token to secure and support its growth.
The Migration Process
The migration process varies depending on where MATIC tokens are currently held. For MATIC holders on the Polygon PoS chain, the upgrade will happen automatically on September 4th, requiring no action from users. However, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges may need to take specific steps to upgrade their tokens. A migration contract has been deployed on Ethereum to facilitate a permissionless upgrade process. The community has also implemented a testnet migration to ensure a smooth transition and identify potential issues before the mainnet upgrade.
The Fate of MATIC holders
The impact on MATIC holders depends on where their tokens are stored. Holders on Polygon PoS don't need to take any action, as their tokens will automatically upgrade to POL. Those with MATIC on $ETH
or Polygon zkEVM will have the option to upgrade using the migration contract or through decentralized exchange (DEX) aggregators. Importantly, there's currently no deadline for upgrading MATIC to POL on these networks, allowing holders to migrate at their convenience. Stakers and delegators of MATIC on Ethereum will see their staked tokens automatically converted to POL, with rewards continuing post-upgrade.
What We stand To Benefit As Members of the Polygon Community and Ecosystem
The POL upgrade appears to be a strategic move aimed at strengthening the Polygon ecosystem. By expanding the utility of the native token, Polygon is positioning itself for future growth and adaptability. POL's design as a hyperproductive token that can serve multiple functions across the network could lead to increased efficiency and broader adoption of Polygon's technologies.
Furthermore, the upgrade aligns with Polygon's vision of becoming an aggregated blockchain network, potentially attracting more developers and users to the ecosystem. The community-driven nature of this upgrade also demonstrates Polygon's commitment to decentralization and user involvement in key decisions.
Conclusion
While any major upgrade comes with challenges, the careful planning, including testnet implementations and clear communication with stakeholders, suggests that the Polygon team is taking a measured approach to ensure a smooth transition. Ultimately, if executed successfully, the POL upgrade could enhance Polygon's competitive position in the blockchain space and provide new opportunities for innovation within its ecosystem.
to $POL tokens. This upgrade represents a pivotal moment in #Polygon's evolution, reflecting the network's growth and community driven vision for the future. This gladdens my heart as a member of the #PolygonHub
It is worthy of note that the #POL upgrade is a community-driven initiative to replace #MATICā as the native gas and staking token for the Polygon Proof-of-Stake (PoS) network. POL is designed to be a hyperproductive token with expanded utility, capable of providing valuable services across the entire Polygon network, including the upcoming #AggLayer This upgrade aligns with Polygon's vision of becoming an aggregated blockchain network, offering a more versatile and future-proof native token to secure and support its growth.
The Migration Process
The migration process varies depending on where MATIC tokens are currently held. For MATIC holders on the Polygon PoS chain, the upgrade will happen automatically on September 4th, requiring no action from users. However, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges may need to take specific steps to upgrade their tokens. A migration contract has been deployed on Ethereum to facilitate a permissionless upgrade process. The community has also implemented a testnet migration to ensure a smooth transition and identify potential issues before the mainnet upgrade.
The Fate of MATIC holders
The impact on MATIC holders depends on where their tokens are stored. Holders on Polygon PoS don't need to take any action, as their tokens will automatically upgrade to POL. Those with MATIC on $ETH
or Polygon zkEVM will have the option to upgrade using the migration contract or through decentralized exchange (DEX) aggregators. Importantly, there's currently no deadline for upgrading MATIC to POL on these networks, allowing holders to migrate at their convenience. Stakers and delegators of MATIC on Ethereum will see their staked tokens automatically converted to POL, with rewards continuing post-upgrade.
What We stand To Benefit As Members of the Polygon Community and Ecosystem
The POL upgrade appears to be a strategic move aimed at strengthening the Polygon ecosystem. By expanding the utility of the native token, Polygon is positioning itself for future growth and adaptability. POL's design as a hyperproductive token that can serve multiple functions across the network could lead to increased efficiency and broader adoption of Polygon's technologies.
Furthermore, the upgrade aligns with Polygon's vision of becoming an aggregated blockchain network, potentially attracting more developers and users to the ecosystem. The community-driven nature of this upgrade also demonstrates Polygon's commitment to decentralization and user involvement in key decisions.
Conclusion
While any major upgrade comes with challenges, the careful planning, including testnet implementations and clear communication with stakeholders, suggests that the Polygon team is taking a measured approach to ensure a smooth transition. Ultimately, if executed successfully, the POL upgrade could enhance Polygon's competitive position in the blockchain space and provide new opportunities for innovation within its ecosystem.
