Token

Polygon

<h4><strong>This significant upgrade marks a major step forward for the Polygon ecosystem. </strong></h4>
<p>POL will replace MATIC as the native gas and staking token for the Polygon PoS chain in its initial phase.</p>
<h5><strong>POL to Replace MATIC as a Native Token</strong></h5>
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      <p>In later phases, POL will enhance the Aggregated Layer, boosting the Polygon network’s functionality and security. The POL migration aims to unify liquidity and state across chains, supporting Polygon’s vision as a top blockchain network. This evolution is designed to provide robust security for Polygon as an interconnected blockchain system.</p>
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<p>For current <a href="https://www.coingecko.com/en/coins/polygon" target="_blank" rel="noopener noreferrer nofollow">MATIC holders</a> 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.</p>
<p><img fetchpriority="high" decoding="async" class="wp-image-146137 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvvcbnbvghfgh-247x300.jpg" alt="" width="412" height="500" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvvcbnbvghfgh-247x300.jpg 247w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvvcbnbvghfgh-346x420.jpg 346w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvvcbnbvghfgh.jpg 393w" sizes="(max-width: 412px) 100vw, 412px"></p>
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/0xPolygonFdn/status/1813846238455873964" target="_blank" rel="noopener noreferrer nofollow">X</a></strong></h6>
<h5><strong>More About the MATIC-POL Upgrade</strong></h5>
<p>The <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/why-matic-is-converting-to-pol/" target="_blank" rel="noopener noreferrer nofollow">POL upgrade</a> 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.</p>
<p><img decoding="async" class="wp-image-146139 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcvbbnvnbhjh-243x300.png" alt="" width="382" height="472" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcvbbnvnbhjh-243x300.png 243w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcvbbnvnbhjh-340x420.png 340w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcvbbnvnbhjh-324x400.png 324w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xvcvbbnvnbhjh.png 393w" sizes="(max-width: 382px) 100vw, 382px"></p>
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/0xPolygonFdn/status/1813846241433784733" target="_blank" rel="noopener noreferrer nofollow">X</a></strong></h6>
<p>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 <a href="https://polygon.technology/polygon-pos" target="_blank" rel="noopener noreferrer nofollow">Polygon PoS chain</a>. 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.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/polygons-matic-pol-upgrade-on-september-4th/" rel="noopener noreferrer nofollow">Polygon’s MATIC-POL Upgrade on September 4th</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Polygon’s MATIC-POL Upgrade on September 4th

Altcoin Buzz

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