POL introduces added features such as restaking. Aligning with Polygon’s integration of zero-knowledge technology, and expansion into a ZK validium Layer 2 network. POL will have an initial supply of 10 billion tokens and a future emission rate capped at 1%.
So POL (Polygon Ecosystem Token) will replace the MATIC token over 4 years.
What Do You Need to Do if You Hold MATIC?
For now, don’t switch to POL. The liquidity for POL is pretty low, and it is better to hold MATIC until Polygon launches a native bridge.
Records Breaking stats since $MATIC
$POL Upgrade!
$MATIC trading volume hits a whopping $1B
—
Keom Chads | Formerly 0VIX Chads (@KEOM_chads) November 15, 2023
Should You Sell Matic?
If you are selling because of uncertainty around POL, you don’t have to sell now. Polygon is not the strongest Ethereum project when you consider the valuation. It is just 3x away from its ATH.
Anyway, MATIC is fundamentally strong, and the roadmap looks promising. If you have been holding MATIC from the early days, there is no reason to sell now.
However, if you are considering buying now, opt for other coins, as the upside is limited.
What Exactly is Happening with POL 2.0?
- Integration of Zero-Knowledge Technology: Polygon 2.0 aims to integrate zero-knowledge technology, transforming it into a comprehensive scaling solution for Ethereum
- More gas consumption for POL token rather than ETH.
- Better optimization with one token economy along the lines of BNB.
- This is bullish for Polygon.
- Restructuring: Transformation of the Polygon PoS chain into a ZK validium Layer 2 network
- Supernet architecture to support a hub of ZK L2 networks.
- Enhances interoperability within a uniform ecosystem.
- Validators will be able to secure multiple chains using a single ecosystem; this resonates with the idea of the Cosmos network, but the presence of multiple tokens makes it difficult to implement in the Cosmos ecosystem. Polkadot also suffer from the same problem.
- This is also bullish for Polygon.
- The transition from MATIC to POL
- Support restaking natively.
- Same supply as MATIC.
- Emission only 1% per year that is 1m POL per year.
- This is neutral for Polygon (There will be confusion in converting MATIC to POL).
1/ Today, the next technical proposal of Polygon 2.0 is unveiled:
POL, the upgraded token of the Polygon protocol!
POL is the next generation native token, designed to secure, align and grow the Polygon ecosystem.
Watch the video to get an idea how cool it is, then
pic.twitter.com/Gn7KcHpWEY
— Polygon (Labs) (@0xPolygonLabs) July 13, 2023
On October 25, 2023, Polygon deployed the POL token contract on the Ethereum blockchain. The POL token is live already.
Disclaimer
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