According to Cointelegraph, Polygon’s native cryptocurrency MATIC has been upgraded to POL tokens, becoming the network’s native gas and staking token. The upgrade is designed to enhance the community’s ability to participate in the growth of the network.
Polygon Labs CEO Marc Boiron said the upgrade introduced a 2% token issuance that the community can use to participate in network activities. Although the full migration has not yet been completed, the community has been able to use these tokens.
The POL token is designed to be a “super-productive” token that earns fees not only from gas and staking, but also from multiple sources such as data availability and decentralization.
There is no hard upgrade deadline for MATIC holders, and all staked MATIC will be automatically converted to POL. This technical migration is part of the Polygon 2.0 vision, which aims to achieve unlimited scalability and unify all blockchains through Polygon CDK and AggLayer.
