This significant upgrade marks a major step forward for the Polygon ecosystem.
POL will replace MATIC as the native gas and staking token for the Polygon PoS chain in its initial phase.
POL to Replace MATIC as a Native Token
For current MATIC holders on the Polygon PoS chain, no immediate action is required during the migration. However, those holding MATIC on Ethereum, Polygon zkEVM, and centralized exchanges. As well as stakers, delegators, and liquid staking token (LST) holders, may need to take specific steps to adapt to the upgrade.
Source: X
More About the MATIC-POL Upgrade
The POL upgrade on the testnet went live on July 17th. This serves as a crucial dress rehearsal for the mainnet migration. This testnet phase has been instrumental in identifying and fixing potential issues. This ensures the stability and security of the upgrade process. It also offers users and developers an opportunity to familiarize themselves with the new functionalities before the mainnet transition.
Source: X
The introduction of POL is a strategic move to enhance Polygon’s infrastructure, making it more resilient and scalable. As the native gas and staking token, POL will facilitate transactions and staking operations, ensuring seamless and efficient operations within the Polygon PoS chain. In the Aggregated Layer, POL’s role will be pivotal in maintaining the interconnectedness and liquidity across different chains, contributing to a unified and cohesive blockchain network.
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