Polygon's POL (MATIC) token surges over 10% as it lists on Binance
Polygon last week introduced POL, the upgraded version of the network's token, which migrates from its old MATIC token with some tokenomic changes.
Polygon's native token, POL, surged as cryptocurrency exchange giant Binance said it added Spot and Futures contract trading with the token to its platforms, marking the completion of the upgrade and rebranding of the token from the old MATIC.
Last week, Polygon introduced the upgraded version of the network's token, POL, which migrates from its long-standing MATIC token. The transition also brought some tokenomic changes, introducing a new token issuance rate of 2% per year.
"The full migration from MATIC-POL has already happened, but the new charts are much more important," noted cryptocurrency analyst DeFiyst. "This is the first successful major token migration we've seen in a long time; we hope other projects will follow."
