Polygon is migrating MATIC to POL

The recently introduced Polygon protocol architecture aims to transform and improve the infrastructure of the network, including its native token.

July 14, 2023

Exciting news from the @0xPolygon ecosystem!

The recently introduced Polygon protocol architecture aims to transform and improve the infrastructure of the network, including its native token. Let's dive into the key highlights and benefits of this upgrade.

Native tokens have revolutionized open source protocols, aligning contributors and making them self-sustainable. Following this trend, a white paper has been published proposing $POL, the next generation protocol token for the Polygon network.

$POL is designed to be the major tool for coordination and growth within the Polygon ecosystem, driving the vision of the Value Layer for the Internet. The white paper offers an in-depth analysis of $POL, its benefits, utility, token economics, and migration process.

The upgraded $POL introduces the concept of hyperproductive tokens, taking a significant leap in native asset design. Validators can now validate multiple chains, and every chain can offer multiple roles and corresponding rewards.

This novel design strengthens and aligns the @0xPolygon ecosystem, supercharging its growth while offering unlimited opportunities to $POL holders. The benefits of $POL extend beyond validation and include ecosystem security, infinite scalability, and in-protocol support.

One of the exciting aspects of $POL is its seamless upgrade process. Token holders will have ample time to upgrade from $MATIC to $POL by simply sending their $MATIC tokens to the upgrade smart contract. The migration process aims to be user-friendly and accessible.

In order to support the ongoing development, research, grants, and adoption incentives, the white paper proposes the introduction of continuous $POL emission to fund a Community Treasury. The governance process for the Community Treasury will be established.

$POL brings numerous benefits to the @0xPolygon ecosystem, including no friction for users and developers, community ownership, and multifold utility and incentives. It's an exciting step forward for Polygon as it progresses towards mass adoption.

Learn more about $POL and the future of the @0xPolygon ecosystem in the recent white paper, explore the FAQ section, and stay updated with the Polygon 2.0 roadmap.