Polygon (formerly known as MATIC Network) recently announced the launch of a token contract called POL, which is intended to replace the existing MATIC token in the future. This move is part of the Polygon 2.0 development roadmap, which aims to improve and strengthen the Polygon ecosystem.
This article will take a deeper look at Polygon’s motivations for introducing the POL token and its importance to its future development. #Polygon
POL token supports Layer 2 chain:
The POL token is designed to serve as the engine for a series of Layer 2 chains. By introducing the POL token, Polygon aims to provide more functionality and flexibility to these chains. This move will enhance the scalability and interoperability of the entire ecosystem and provide more choices for users and developers. #LAyer2
Re-staking agreement:
Polygon uses a re-staking protocol to give POL tokens multiple functions. This means that users can re-stake POL tokens on different chains, enabling more transactions and usage scenarios. This provides users with greater flexibility while promoting further development of the entire ecosystem.
![](https://public.bnbstatic.com/image/pgc/202310/1964df39a22061784d55aa48763f2cb7.png)
MATIC tokens are still available:
Although Polygon has launched the POL token, the MATIC token remains usable on the Polygon network. Users, validators, and developers do not need to immediately convert MATIC to POL tokens. Currently, the widespread use of POL tokens on the Polygon network is still limited, so the MATIC token remains the primary method of transaction and participation. #MATIC
Polygon 2.0 Roadmap:
The launch of the POL token is part of the Polygon 2.0 development roadmap. The roadmap aims to improve the MATIC ecosystem, introduce new staking layers, upgrades, and shared liquidity protocols. These plans will enhance the performance and functionality of the entire ecosystem and create more opportunities for users and developers.
The trading volume of MATIC tokens increased by 33.8% in 24 hours:
Polygon co-founder Mihailo Bjelic announced the launch of the POL token on the X platform, celebrating the "community-driven governance mechanism." The POL contract complements the Polygon Protocol Council announced last week and together they form an important part of the future development of the Polygon Protocol.
It is important to note that Polygon proposed the establishment of the Polygon Protocol Council on October 19, which led to the MATIC token experiencing higher trading activity in the following 24 hours. According to Coin Edition, in the past 24 hours, the number of MATIC tokens bought and sold by crypto traders increased by 33.8% compared to the previous day.
This series of events shows that the Polygon team attaches great importance to the protocol governance mechanism, and the launch of the POL token is closely related to the establishment of the Polygon Protocol Council. These measures are of great significance to the development and future of the Polygon protocol, and have also aroused strong interest and active trading in MATIC tokens among market participants.
in conclusion:
Polygon's introduction of POL tokens aims to enhance and improve the Polygon ecosystem and lay a solid foundation for future development. POL tokens will support multiple Layer 2 chains and provide multiple functions through the re-staking protocol.
At present, although POL tokens are not widely used on the Polygon network, MATIC tokens are still the main way to trade and participate. With the implementation of the Polygon 2.0 roadmap, we can expect more developments about POL tokens and the Polygon ecosystem, bringing a more scalable and innovative future to the cryptocurrency field.