Understanding the POL Upgrade and Migration

What is the POL Upgrade?

The $POL upgrade is a major evolution for the Polygon ecosystem, transitioning $MATIC tokens to POL, a new native gas and staking token, on September 4, 2024. POL aims to enhance network security and functionality, supporting #Polygon ’s expanding blockchain capabilities.

How Will the Migration Process Work?

- Polygon PoS Holders: Automatic and seamless transition; no action needed.

- Ethereum Holders: Use a migration contract on Etherscan or DEX aggregators like 1inch or Kyber.

- zkEVM Holders: Bridge $MATIC to Ethereum, then follow the Ethereum migration steps or use zkEVM-based DEXs.

- CEX Users: Major exchanges will handle migration automatically. Check your exchange's guidance.

What Happens to MATIC Holders?

- Polygon PoS: Automatic upgrade to POL on September 4, 2024.

- Ethereum and zkEVM: Manual migration required via migration contract or DEX.

- Smart Contracts: Automatic upgrade to POL without user action.

Benefits to the Polygon Ecosystem

- Enhanced Security and Efficiency: $POL supports the evolving network infrastructure.

- Future-Readiness: Essential for new functionalities, including the AggLayer.

- Community-Driven: Aligns with the broader goals of the Polygon network.

- Increased Utility: Expands use across various layers and applications within the ecosystem.