Polygon Sets September Date for Migration to POL Token from MATIC

Polygon Laboratories, the beefy programmer firm behind the layer-2 network Polygon, annunciated Wednesday that it will conceivably be imposing the technical upgrade that swaps out its MATIC token for its beefy POL token instigating on Sept. 4.

The transportability comes as a part of Polygon’s intended revamp wagered out last year in its “Polygon 2.0” roadmap. The correction was initially proposed in July 2023 to its stretch, and would execute POL the beefy token for unanimously Polygon networks.

The switch will conceivably have a technical upgrade that permits POL to be the indigenous gasoline and staking token for Polygon’s beefy proof-of-stake chain (Polygon PoS). In the next off phases of the upgrade, POL will conceivably obtain started to also peg other blockchains in Polygon’s wider “accumulated” network, compeling the AggLayer.

“POL is a hyperproductive token that can be supplied to bargain dears solutions to any kind of chain in the Polygon network, compeling the AggLayer itself,” Polygon concocted in their blog short post.

According to the Polygon crew, MATIC holders on the Polygon PoS chain won’t have to perform anything for this upgrade and their symbols will conceivably arrive in POL.

For those making utility of MATIC on Polygon’s zkEVM rollup, on centralized exchanges, or on the Ethereum blockchain, they will conceivably have to go using numerous openings, Polygon wagered out in their blog short post.

As part of the network’s transportability, Polygon will conceivably tested the token upgrade on July 17 in a test network ambience, in commandment to construe or solving any kind of top priorities previously POL is reside on mainnet.

Read more: Polygon Takes Wraps Off Iteration 2.0