Recently, Polygon announced a major update with the migration of its native token MATIC to a new token POL. This transition, which began on September 4, 2024, is a key milestone in the Polygon 2.0 project. The goal is to evolve the Polygon ecosystem by improving the flexibility and utility of the network, while introducing new features for its native token.
Why Migrate to POL?
The launch of the POL token marks a turning point in Polygon’s vision. Designed to offer more features than MATIC, POL will play a central role in the new Polygon 2.0 environment. One of the key features of this evolution is the integration of the AggLayer system, an aggregation mechanism for affiliated blockchains. This system will allow Polygon to manage multiple interconnected blockchains while strengthening its ability to support massive transactions.
What Changes for Users?
MATIC holders do not need to take any immediate action if they are using the Polygon Proof-of-Stake (PoS) network. However, those holding MATIC on Ethereum, Polygon zkEVM, or centralized exchanges may need to manually migrate their tokens to POL.
POL will now be used for gas, staking, and other important network functions.
Additionally, this migration will bring benefits to the Polygon ecosystem, including improved participatory governance, greater flexibility for developers, and reduced transaction costs.
What about the Emission Rate?
The POL token will adopt an emission rate of 2% per year. This rate will be used to reward validators and to feed the community treasury, thus ensuring the funding of future developments and improvements within the ecosystem.
In conclusion, this migration is a major step forward for Polygon. It aims to strengthen its network, attract more projects, and improve the user and developer experience.
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Disclaimer: This article does not constitute investment advice. Cryptocurrency markets are volatile and involve risks. Always do your own research before making any financial decisions.
