Welcome to a new week of learning about Technological Projects in Blockchain through #SocialMining .
September 4th is the date set by the #Polygon Network for the migration of the $POL token, a token that aligns with decentralization and creates value through participation across multiple chains, rewarding validators and supporting the community treasury.
The change from the $MATIC token to POL is part of Polygon's strategy to improve the efficiency and functionality of the network. It can be found in its roadmap for Polygon 2.0, which aims to enhance scalability and interoperability between chains.
The differences between the MATIC and POL tokens:
MATIC was used to pay gas fees and for staking, without a fixed issuance rate.
POL has an annual issuance of 2%, intended for rewards and community funding.
It will replace MATIC in Polygon 2.0, offering greater flexibility and scalability.
It supports broader roles in staking, such as block generation and zero-knowledge proofs, promoting decentralization and community funding.
Third-generation token
POL is now the native and next-generation token, its design empowers it for the growth of the Polygon ecosystem and drives the vision of being the value layer for the Internet.
Compared to BTC from Bitcoin, which is the first native token, fundamental but not productive, and ETH from Ethereum, a second-generation token that allows holders to be validators and earn rewards. POL from Polygon is a third-generation token because its design allows it to be a native token, useful for staking, gas payments, and adapting to coordinate and grow the Polygon ecosystem.
The shift to POL strengthens the infrastructure and positions the network for sustainable long-term growth and development.
The participation of the social miners from @DAO Labs in #PolygonHub facilitates the understanding of the process by creating educational content for the community.
My posts are informative, always DYOR.
Sources
- polygon dot technology
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- polygon dot technology
polygon 2 0 milestone pol contracts are live on ethereum mainnet
- polygon dot technology
unlocking perpetual growth how pol fuels polygons aggregated blockchain future
- polygon dot technology
polygon 2 0 tokenomics
