1 year ago
Polygon Labs, the squad down the Polygon blockchain network, has introduced a third-generation token that could regenerate the autochthonal cryptocurrency, MATIC, with a “hyperproductive” integer currency named POL. If the POL conception gains approval, validators tin gain rewards from staking and besides accumulate rewards from aggregate Polygon chains.
Polygon Labs Introduces Next-Gen Crypto With POL, a Potential MATIC Successor
Polygon Labs introduced a multipurpose token named POL connected July 13, 2023, pursuing the merchandise of a white paper connected the taxable by a radical of Polygon founders and researchers. The achromatic insubstantial outlines POL’s relation arsenic a imaginable successor to MATIC, becoming a important instrumentality successful fostering maturation and collaboration wrong the Polygon ecosystem. One important vantage of POL is that stakers volition person the accidental to accumulate rewards successful POL arsenic good arsenic from different Polygon-centric networks.
Described arsenic a “hyperproductive” integer currency, POL has the capableness to validate galore blockchains, according to a blog station by Polygon Labs connected POL’s tokenomics. “To pull much validators, immoderate Polygon chains tin take to present further rewards,” the station explains. “These rewards tin beryllium successful immoderate token, including but not constricted to POL, stablecoins oregon autochthonal tokens of those Polygon chains.” Should it person approval, POL’s proviso is poised to lucifer MATIC’s 10 billion, and users tin speech MATIC for POL astatine a 1:1 ratio.
Polygon Labs states:
The upgrade from MATIC to POL would necessitate a elemental method enactment – sending MATIC to the upgrade astute contract, which volition automatically instrumentality the equivalent magnitude of POL.
Furthermore, the squad announced regular POL emissions arsenic a means to concern a assemblage treasury, the intent of which is to promote protocol development, beforehand protocol research, administer ecosystem grants, and foster adoption incentives. “The assemblage treasury should beryllium governed by the Polygon community, via an agreed upon governance process,” the blog station elaborates.
MATIC holders volition beryllium accorded a clip framework to speech MATIC for POL, with Polygon Labs recommending a play of 4 years oregon more. Wrapping up, the squad indicated that the modulation could commence wrong a fewer months if the assemblage endorses this proposal
What bash you deliberation astir Polygon proposing to revamp MATIC with POL? Share your thoughts and opinions astir this taxable successful the comments conception below.
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