Polygon Labs has deployed contracts for its next-generation #crypto , $POL, on the #ETH $ETH mainnet.
ll The deployment follows a series of approved Polygon Improvement Proposals in September that detailed the specifications for the #pol token.
POL is an evolution of $MATIC and aims to align with the architecture of the upcoming Polygon 2.0 upgrade. POL will serve as the main #cryptocurrency for the Polygon 2.0 ecosystem, supporting an ecosystem of zero-knowledge-based Layer 2 chains and incorporating features such as staking, community ownership, and governance.
Despite being available on the mainnet, the POL token will not take the place of MATIC right away. A replacement of this kind will be rolled out in tandem with the Polygon 2.0 upgrade and will require governance approval. A straightforward technical step is needed to convert MATIC to POL: sending MATIC to the upgrade smart contract, which will automatically return the equivalent amount of POL.
POL's #trading price is currently unknown, and projections regarding its future value are challenging to make.