- Polygon has formally turn into Polygon 2.0, with the cornerstone of the improve being the transition from native token MATIC to POL.
- POL is ready to introduce a number of new staking strategies for on-chain validators.
- The improve may even alter the coin’s tokenomics to enhance the group’s incomes potential over the approaching years.
The highly anticipated Polygon upgrade is finally live, after greater than 12 months of preparation among the many group and builders. Polygon 2.0 was introduced in June 2023, and the trade has watched carefully to see how the transition—which incorporates altering the native token customary—would affect the community.
Regardless of the thrilling information, Polygon endured a tough day on the workplace, falling 4.7% whereas the remainder of the market tentatively gained 0.5%.
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Polygon 2.0 to Unlock Wave of New Incomes Mechanisms
The largest modifications to Polygon 2.0 are tied immediately to the token improve, with MATIC shifting to a brand new coin known as POL.
An underlying theme of the transition is growing utility. At current, MATIC holders inside the group are largely hamstrung by a simplistic staking construction. Present homeowners can stake on a PoS node – and that’s about it.
POL is ready to introduce a number of new fee-generation mechanisms, permitting stakers to generate zero-knowledge proofs and take part in Agglayer, an interoperability bridge.
Moreover, POL may open up incomes alternatives from different blockchain networks created with Polygon’s growth equipment (CDK).
The tokenomics of the native coin may even be altered, with an inflationary schedule releasing 200m POL tokens yearly. This may assist generate emissions, which have at the moment stalled, to reward stakers on the community.
“Littlest Massive Improve” In accordance to CEO
Those that at the moment maintain MATIC tokens immediately on Polygon’s community will, properly, now not be holding MATIC. The transition occurred robotically in a single day, with their wallets now brimming with the equal variety of POL.
Ethereum-based MATIC holders, or those that maintain the token in a centralised change, can manually improve their cash anytime. There’s no deadline at this level, so buyers can utilise the Polygon transition sensible contract at any time when handy.
Polygon’s CEO, Marc Boiron, put the improve succinctly:
[This is] the largest little improve that’s ever occurred with a token.
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