Polygon Proposes Token Switch From MATIC to POL for More Utility

A radical of Polygon founders and researchers projected a token upgrade that would regenerate the network's MATIC token with POL successful a determination that lets POL relation arsenic a azygous token for each Polygon-based networks.

These networks see the main Polygon blockchain, the Polygon zkEVM network, and assorted supernets –
application-specific blockchains that tally atop the main Polygon network.

If the connection is accepted, web validators volition beryllium capable to enactment the cognition of aggregate chains utilizing a azygous token.

The upgrade to POL from MATIC requires a elemental method enactment – sending MATIC to the upgrade astute contract, which volition automatically instrumentality the equivalent magnitude of POL. Token holders would beryllium fixed ample clip to upgrade, a projected 4 years oregon more, if the assemblage supports the move.

Every Polygon chain’s assemblage volition yet determine which token their concatenation volition usage for state fees; immoderate of them mightiness take POL. Holders volition usage POL to ballot connected governance proposals for decentralized applications built connected Polygon, and each rewards volition beryllium distributed successful POL.