Polygon is undergoing a significant transition from its old token, MATIC, to a new token called POL. This upgrade is set to take place on September 4th, marking a new chapter for Polygon as it expands its reach and capabilities. Unlike the MATIC token, the new POL token will secure multiple chains, not just the Polygon chain. This upgrade will bring new utilities and uses for the POL token, enhancing its value and versatility across different blockchain networks.
For MATIC holders on the Polygon POS chain, the transition to POL tokens will be effortless. The upgrade process requires no action from them, as their MATIC tokens will automatically be converted to POL tokens. However, there's still uncertainty regarding the fate of MATIC tokens on Ethereum or on exchanges, which remains to be clarified.
Several factors are driving Polygon’s growth, including the transition to the new POL token, the main chain's evolution into a full-fledged layer 2, and the launch of new technologies. Additionally, the potential entry into an alt season could serve as a significant catalyst for Polygon's development.
Despite these advancements, Polygon remains underrated. The team has consistently delivered impressive technology, capturing a substantial share of the crypto gaming market. With the number one breakout app of this cycle built on Polygon and one of the most talented teams in the space, Polygon is positioned for considerable growth that many still overlook.
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