"Polygon Kicks Off MATIC to POL Token Migration : What You Need to Know"

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Polygon, the second-largest Layer-2 network on Ethereum, is launching a significant upgrade today by migrating from MATIC to POL tokens. With a market cap of $3.6 billion, MATIC’s transition will impact many investors as the network aims to enhance flexibility in issuing new supplies.

Those holding MATIC on Polygon’s Proof of Stake chain won’t need to act—tokens will auto-convert to POL. However, Ethereum and zkEVM users may need to migrate manually. While there’s no immediate deadline for conversion, Polygon hinted one might be imposed later.

POL will serve critical functions, including gas and staking, and play a central role in Polygon's long-term vision. Despite this, MATIC’s value has dipped 5%, trading at $0.3897 as migration begins.