Polygon Labs announced that the POL token upgrade is live on the Ethereum mainnet as part of the Polygon 2.0 roadmap.
Polygon Labs announced on Wednesday that the POL token upgrade is now live on the Ethereum mainnet as part of the Polygon 2.0 roadmap. The POL token will replace the MATIC token and become the next generation of Polygon's efficient ecosystem, which includes the main Polygon blockchain, the Polygon zkEVM network, and various supernets.
POL Token Contacts are now live on Ethereum Mainnet
The POL token upgrade is now live on the Ethereum mainnet, Polygon Labs revealed in a press release on Oct. 25. As part of the Polygon 2.0 roadmap, the new POL token will replace the MATIC token as the native token of the ecosystem.
“Today marks a major milestone in Polygon 2.0’s journey to build the value layer of the Internet. After months of development, community consultation, and a successful testnet launch, the POL upgrade has been launched on the Ethereum mainnet.”
The POL token will power all Polygon networks — the main Polygon blockchain, the Polygon zkEVM network, and the various supernets.
The POL upgrade also prepares for the next milestone in the Polygon 2.0 roadmap. It includes launching a new staking layer to power Polygon L2, upgrading Polygon PoS to zkRollup, and implementing advanced, ZK-driven interoperability and shared liquidity protocols.
Polygon plans to switch from MATIC to POL
In September, Polygon released three Polygon Improvement Proposals (PIPs) to initiate the migration of MATIC to POL tokens. Phase 0 of PIP-18 is planned to build an interconnected zero-knowledge-driven L2 chain network to expand Ethereum to the scale of the Internet.
It will make significant changes, including upgrading from MATIC to POL tokens as the native token of Polygon PoS and the staking token of Polygon PoS.
MATIC price is up 21% in a week and is currently trading at $0.62. The price is down 4% in the past 24 hours.
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