šØ MATIC Is Being Replaced! Say Hello to the New 'POL' Token š
Big changes are underway! Polygon is phasing out MATIC tokens as it migrates to the new POL token, and just 1 week in, over 60% of tokens have already been converted! š
Hereās what you need to know:
š POL = New Gas & Staking Token
The POL token will be the go-to for gas fees and staking, introducing game-changing features like multi-chain staking across the Polygon ecosystem. This upgrade is expected to boost network security and align the token name with the Polygon brand.
šļø Migration Timeline
The MATIC-to-POL migration started on September 4, 2024, as part of Polygon 2.0ās roadmap. This upgrade focuses on enhancing scalability, security, and functionality within the network.
š” What's in it for Investors?
With multi-chain staking and added security features, POL is expected to attract more investors, offering new fee-earning opportunities.
š¢ Do You Need to Take Action?
MATIC holders on Polygon: Your tokens will auto-convert to POL.
MATIC holders (ERC-20 on Ethereum): Visit the POL Portal to convert your tokens.
Centralized Exchange Users: Check with your exchange to manage the migration manually if necessary.
Stay ahead of the curve as Polygon evolves! š
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