@Polygon Labs upgraded its native token from #MATIC✅. to #POL on September 4, 2024 for a more productive, scalable ecosystem. POL introduces new “hyperproductive” features beyond #Gas... fees and staking. This expands its use significantly.
So why was such an upgrade needed?
The upgraded POL token offers a “hyper-generative” token system, meaning broader functionality.
While MATIC profits from gas and staking fees, POL offers new fee generation opportunities such as ensuring data availability and decentralizing the sequencer.
Focused on increasing token usage and scalability, this upgrade will serve as a natural gas and staking token. It will play a key role in Polygon's growth. By securing, coordinating and harmonizing the Polygon ecosystem, it accelerates its further growth.
POL holders will now be able to generate fees from multiple sources such as staking, securing additional chains, or decentralized sequencers. This will allow POL validators to participate in more network events and take part in various roles within the Polygon ecosystem.
There will be revenue potential, but beyond that POL will also play a key role in Polygon's AggLayer, an aggregation layer designed to seamlessly connect different blockchains. This makes POL a key player in POLYGON 2.0, which has a vision of creating a scalable and interconnected ecosystem by combining various chains.
Polygon is expected to realize its ambitious plans to transform its zero-knowledge technology and ecosystem into a scalable, decentralized #web3_binance application hub with POL upgrade.
As a social miner working on the @EnsarEsen #SocialMining platform, I believe the POL token will increase the stability and decentralization of the network with reliable rewards and long-term loyalty incentives.
