According to ChainCatcher, The Block reported that the Polygon development team announced that the MATIC token has been converted to POL. POL has now become the native gas and staking token on the Polygon PoS chain, and major exchanges are expected to be launched one after another. This migration is a key step for Polygon to develop into a ZK chain and integrate with AggLayer, aiming to integrate liquidity and status between multiple chains.
POL will maintain the original token economics model, distribution method and total supply of 10 billion of MATIC. MATIC holders on the Polygon PoS chain do not need to take any action, and the token will be automatically upgraded to POL. However, MATIC holders on Ethereum, Polygon zkEVM or centralized exchanges need to actively convert their tokens to POL through the migration contract.
