🫣🫣🫣 Don't be surprised if you see POL in your wallet. The reason for this distribution is that the matic tokens of those who hold matic in their wallets are being converted to pol tokens. It's not actually a gift :) pol tokens equivalent to the previous matic value were given.
Here are the details;
Polygon has started the process of migrating from MATIC to POL tokens in order to improve network functionality and support the Polygon 2.0 roadmap. Polygon network, one of the leading Layer-2 solutions built on Ethereum, is preparing for expansions with this upgrade. In this context, MATIC token will be converted to the new POL token and the functionality and scalability of the network will be increased.
Automatic and Manual Token Migration MATIC holders on the Polygon Proof of Stake (PoS) chain will see their tokens automatically converted to POL and they will not need to do anything. Users who hold MATIC on other platforms will manually switch and use the Polygon Portal Interface.
Polygon has not set a specific date for the transition, but has indicated that a time limit could be set in the future. The move is part of Polygon’s vision to make the POL token a core asset in the ecosystem.
Polygon 2.0 and the Importance of POL The POL token will serve as the network’s gas and staking token with Polygon 2.0. It will also play a key role in Polygon’s AggLayer strategy, which brings together multiple blockchain platforms. POL will also be a critical piece for Polygon’s staking hub, which is scheduled to launch in 2025.
New Token Economy With the transition from MATIC to POL, Polygon is moving to a new token economy model. POL will have an annual emission rate of 2% to reward validators and support the community treasury. With this change, the Polygon team believes that POL will increase investor confidence and drive future growth.
