Polygon founder announces launch of new network token POL.
Compared to MATIC, POL will be a massive technological upgrade.
The new token will allow staking across multiple chains without the risks associated with re-staking.
On August 28, Polygon founder Sandeep Nailwal announced a major upgrade with the launch of a new token called POL. Nailwal said in his tweet that “POL is a massive technological upgrade to MATIC.”
According to Nailwal, POL will eliminate the risks associated with re-staking while providing the same benefits of multi-chain staking. POL fits in with Polygon’s expansion plan to transform into an L2 ecosystem that shares liquidity with each other rather than staying in a single chain.
POL's white paper emphasizes that Polygon 2.0 will feature a ZK-driven layer 2 chain group, brought together by an innovative cross-chain coordination protocol, accommodating a large number of chains with seamless cross-chain interactions. Nailwal clarified that in Polygon 2.0, individuals stake POL within a staking center, enabling them to subsequently re-stake POL to validate numerous chains within the network. The founder further explained: We call this approach "divine re-staking". POL itself can be used to stake any number of chains and participate in any number of roles. This allows stakers to earn higher returns for the same staked capital.
Polygon 2.0's Tokenomics document states that following Bitcoin and Ethereum, POL has developed into an efficient token that can not only verify and reward across numerous chains, but also provide multiple roles and corresponding rewards in each chain.