Post By: CryptosHeadlines.com

Polygon Labs has introduced smart contracts for its forthcoming cryptocurrency, POL, on the Ethereum mainnet.Polygon Labs has reached a significant milestone by deploying contracts for its new cryptocurrency, POL, on the Ethereum mainnet. This comes after a successful testnet deployment, showcasing Polygon’s dedication to innovation.
In September, the Polygon community approved several Improvement Proposals, including PIP-17 and PIP-19. These proposals outlined the transition from MATIC to POL and were aligned with the architecture of the eagerly awaited Polygon 2.0 upgrade. POL, designed to replace MATIC, seamlessly integrates with the advanced features of Polygon 2.0, setting the stage for the next phase in Polygon’s development.
Matic and Pol
The key differences between MATIC and POL are in their intended functions. MATIC has been the foundational cryptocurrency in the Polygon ecosystem, while POL aims to take things to the next level. POL will not only be the primary cryptocurrency for Polygon 2.0 but will also support a wide network of zero-knowledge-based Layer 2 chains.
A standout feature of POL is its native re-staking protocol. This protocol empowers POL holders to validate multiple chains and take on various roles on each chain, increasing its usefulness in the ecosystem. In Polygon Labs’ words, “POL, a next-generation, high-efficiency token, will power a broad ecosystem of zero-knowledge-based Layer 2 chains. Its native re-staking protocol gives POL holders the flexibility to validate on numerous chains and assume diverse roles on each.”
It’s important to note that POL won’t immediately replace MATIC. Such a significant transition requires governance approval and will coincide with the launch of Polygon 2.0. As the upgrade draws near, there are several crucial steps to be taken. These include introducing a new staking layer for Polygon’s Layer 2 chains, transitioning from Polygon’s proof-of-stake to zkRollup, and implementing a zk-based interoperability and shared liquidity protocol for all Layer 2s, as outlined by Polygon Labs. This roadmap sets the stage for an exciting new chapter in Polygon’s journey.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Polygon #PolygonzkEVM #matic #POL #POLtoken

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Polygon Labs has started Polygon 2.0, a major Ethereum upgrade. They released three proposals to make Ethereum better and started changing MATIC to POL tokens.

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Polygon Labs has kicked off Polygon 2.0, a big upgrade for Ethereum, with three proposals to improve it and the transition of MATIC to POL tokens. This marks a significant step for Polygon as they aim to make Ethereum more scalable and have better liquidity.

Polygon 2.0 Implementation Proposal Announced

On September 14, Polygon Labs made an important announcement. They shared that they’ve released three proposals to improve Polygon, called Polygon Improvement Proposals (PIPs). These changes are part of their Polygon 2.0 plan, which they started working on in June. They expect to finish these improvements in early Q4 this year.

One of the main goals of Polygon 2.0 is to give more power to the community. This means the people who build things on Polygon and everyone else who helps make Polygon better will have a bigger say in how things work.

PIP-18 is a plan to create a network of connected chains using a technology called zero knowledge. This will make Ethereum much bigger and more powerful, like the Internet.

One big change is that they will switch from using MATIC to POL tokens for certain things in Polygon. These tokens will be used for staking and other important stuff.

PIP-17 is about how they will use POL tokens. It will help with things like staking, which is like saving your tokens to earn rewards, and making sure the community has a say in how things work.

PIP-19 is a plan to make sure everything still works when they switch from MATIC to POL tokens. They will upgrade something called the Bridge Contract to make this happen.

MATIC Price Rises Slightly in 24 Hours

In the last day, the price of MATIC, a cryptocurrency, increased by just over 1%, reaching $0.521. However, the news about Polygon 2.0 and the migration of the POL token didn’t spark immediate interest from traders. The lowest and highest prices in the last 24 hours were $0.509 and $0.524, respectively

Trading volumes have decreased by 12% during this time, indicating a lack of interest from traders. Additionally, concerns from the SEC about MATIC’s classification as securities and Binance’s decision to drop support for Polygon and remove MATIC pairs have influenced its price movement.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#cryptomarket #POLYGON #Ethereum #POL #MATIC

Polygon Labs, the development team behind Ethereum scaling solution Polygon, has made an exciting announcement! The company is preparing to introduce a new native token called POL, adding a boost to the Polygon ecosystem. In a Twitter announcement, Polygon Labs revealed its upgrade plan to introduce the POL token as a replacement for the existing token, MATIC. This move aims to unify all structures of the Polygon network with the POL token, providing a more comprehensive experience. #polygon #POL #MATIC $MATIC #ETH $ETH

POL Token: The New Star of the Polygon Ecosystem:

The upgrade plan presented by Polygon Labs positions the POL token as the main token of the Polygon ecosystem. This means that POL will be the sole valid token across all Polygon networks, including the Polygon mainnet, Polygon zkEVM network, and Supernet chains. Polygon Labs emphasizes that the POL token will serve as a multi-purpose token, enabling validators to support the operation of multiple chains using a single token. #zkEVM

Upgrade Process and Timeline:

The transition from the MATIC token to POL has been carefully planned by Polygon Labs. The company has outlined the necessary technical steps for users holding MATIC tokens to upgrade to the POL token. These steps include sending the MATIC tokens to an upgraded smart contract and receiving an equivalent amount of POL tokens in return. Token holders can follow the guidelines provided by Polygon Labs for detailed information and the timeline of the upgrade process. The company highlights that sufficient time will be given for the community to support this initiative. The upgrade process is expected to be completed within four years or longer, according to estimates.

POL Token: Versatile Utility:

Communities within the Polygon chains will have the option to prefer the POL token for gas fees. Each chain's community will make this decision, allowing users to utilize the POL token as a means of payment. Token holders will also be able to use the POL token to vote on governance proposals for DApps developed on Polygon. Participation in governance proposals and the use of the POL token will offer token holders various rewards and incentives.

Price Increase Reflects Community Interest and Confidence:

The announcement of Polygon Labs' POL token has generated significant interest within the community, resulting in a rapid increase in the price of the MATIC token. According to TradingView data, the price of the MATIC token rose from approximately $0.73 to $0.77 within one hour after the announcement. This represents a growth of over 5% in the token's value. This price increase reflects the community's confidence in the POL token and the upgrade plan, further boosting excitement for the future of the Polygon ecosystem.

In Summary:

Polygon Labs has introduced the POL token to strengthen the Polygon ecosystem and provide a more comprehensive experience. The upgrade plan replaces the MATIC token with the POL token, unifying all structures of the Polygon network and offering versatile utility. This step has generated significant excitement within the community and led to a rapid increase in the price of the MATIC token. We eagerly await future developments regarding Polygon Labs' POL token and upgrade plan.

Cryptocurrencies are in constant evolution, and blockchain projects always seek to enhance their features to stay competitive in the global market. A recent announcement has captured the attention of the crypto community, with Matic Network deciding to transition to POLMatic Network: A Brief OverviewMatic Network, now known as Polygon (POL), was initially created to address Ethereum's scalability issues. By introducing a layer 2 solution, Matic enabled faster and more cost-effective transactions on the Ethereum blockchain. However, development teams have never remained static, and the move to POL represents a significant step in the project's evolution.Reasons Behind the ChangeThe decision to shift from $MATIC to POL is explained by several strategic factors. Firstly, the rebranding provides a broader and more inclusive image of the project, reflecting its ambition to become a versatile blockchain solution beyond solving Ethereum's scalability issues.Furthermore, the transition to POL aims to enhance the project's global visibility, emphasizing its commitment to interoperability and the creation of an interconnected blockchain ecosystem. This is expected to attract more businesses and developers to the platform, thereby strengthening its community.Anticipated BenefitsThe transition from Matic to POL is not merely symbolic; it comes with tangible advantages. Users can expect an improved user experience with faster transactions and reduced gas costs. Additionally, POL will offer advanced features such as native support for smart contracts, expanding its utility.Technically, POL will implement innovative layer 2 solutions, contributing to even greater scalability. This paves the way for more complex and diversified decentralized applications (#Dapps ), reinforcing the #POL ecosystemCommunity ResponseWhile many community members have welcomed this change, some remain cautious, fearing potential disruptions. However, the POL development team has ensured a smooth transition with a well-documented upgrade process for users and developers.ConclusionThe transition from Matic to POL marks a crucial step in the evolution of this dynamic blockchain project. Emphasizing interoperability, scalability, and advanced features, #PolygonEvolution seeks to shape the future of blockchain. As the community closely monitors this transition, it is evident that POL aspires to play a central role in the global blockchain landscape.You can already swap $MATIC to #POL on #KyberSwap or wait until it migrate : https://kyberswap.com//?utm_source=community&utm_medium=ambassadors&utm_campaign=ojahz

Introduction: Polygon, a well-known player in the world of Ethereum Layer 2 solutions, has recently made a significant move that's turning heads in the blockchain community. The project has introduced its new native token, $POL, on the Ethereum mainnet as a part of its ambitious transition from $MATIC . This decision comes as a strategic move to support various zero-knowledge Layer-2 chains through a groundbreaking re-staking protocol. In this article, we will delve into the reasons behind Polygon's shift from $MATIC to $POL and what it means for the future of the project.1. The Evolution of Polygon:Polygon, formerly known as Matic Network, started as a Layer-2 scaling solution to address some of the pressing issues facing the Ethereum network, such as high gas fees and slow transaction speeds. It successfully achieved its initial goal, attracting a growing community and a wide range of decentralized applications (dApps) to its ecosystem. However, the team behind Polygon had more ambitious plans in mind.2. The Rise of Layer-2 Chains:As the crypto space evolved, so did the demands of users and developers. Polygon recognized the need to expand its capabilities and diversify its offerings. To stay at the forefront of Layer-2 scaling solutions, the project aimed to support various zero-knowledge Layer-2 chains. These chains are known for their privacy and scalability features, making them highly sought after in the blockchain world. To enable this transition, Polygon introduced $POL.3. The $POL Token:$POL is more than just a rebrand of $MATIC . It represents the next phase of Polygon's evolution. With this new native token, Polygon can leverage its existing user base and community to establish itself as a robust ecosystem for zero-knowledge Layer-2 solutions. The introduction of $POL not only strengthens the project but also opens up exciting opportunities for users and developers.4. Price Dynamics:Upon the announcement of the transition, the cryptocurrency market witnessed some interesting price dynamics. While $MATIC experienced a slight decrease in price, $POL surged, capturing the attention of investors and traders. This shift in market sentiment reflects the community's confidence in Polygon's vision and the potential of $POL.5. The Transition Period:Polygon is not leaving its existing $MATIC token holders in the dark. The project has implemented a designated smart contract, allowing users up to four years to convert their tokens from $MATIC to $POL. This shows a commitment to ensuring a smooth and gradual transition for its loyal community.Conclusion:Polygon's move from $MATIC to $POL is a pivotal moment in the project's history. It signifies the team's dedication to innovation and adaptability in the ever-evolving blockchain space. With a renewed focus on zero-knowledge Layer-2 chains and a strong ecosystem, Polygon's transition promises to benefit users, developers, and the broader crypto community. The rise in $POL's price and the support it has garnered are just the beginning of what Polygon 2.0 has to offer.#pol #POL