Polygon Network Replaces MATIC with POL

Polygon Network will transition its MATIC token to POL tokens with an upgrade scheduled for September 4. Polygon Labs initiated the Ethereum contract for POL on October 25, aligning with the Polygon 2.0 roadmap. This move is designed to support a diverse ecosystem of zero-knowledge Layer-2 networks and enhance the utility of Polygon’s native token, fueling the collective blockchain network known as AggLayer.

The POL upgrade was initially rolled out on Polygon’s test network on July 17, providing the community ample time to identify and address potential issues before the mainnet transition. In the first phase, POL tokens will replace MATIC for transaction fees and staking. The Polygon community anticipates that POL will play a more significant role in the future. Access NEWSLINKER to get the latest technology news.

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