TLDR
- 99% of MATIC tokens have been efficiently migrated to POL, finishing the improve.
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POL is now the native fuel and staking token on Polygon PoS, fueling all transactions.
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The migration opens new options, together with tokenized collateral and group rewards.
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The migration course of contains improved utility for POL and enhanced community safety.
Polygon has reached a serious milestone in its community improve, with 99% of MATIC tokens efficiently transitioned to POL. The migration has been a year-long course of, beginning in September 2024, and marking the completion of the improve that modifications the community’s native token. POL now serves because the fuel token for all transactions on the Polygon PoS community.
The improve was introduced to supply extra flexibility and utility for the community’s token. It additionally supplies new alternatives for Polygon’s ecosystem, together with better scalability and the potential for broader use in cross-chain interactions. The community-driven initiative has efficiently preserved backward compatibility, guaranteeing that the transition didn’t disrupt any present purposes or providers.
POL Token Turns into the New Native Gasoline and Staking Token
The profitable completion of the MATIC to POL migration signifies that POL has formally changed MATIC because the native token for each fuel and staking throughout the Polygon PoS community. All transactions carried out on Polygon PoS are actually powered by POL, and this token will play a key position in securing the community and guaranteeing its continued operation.
As half of this transition, customers may start staking POL tokens to assist safe the community and earn rewards. This staking function was launched to improve the community’s safety and supply additional incentives for the Polygon ecosystem.
The shift to POL additionally ensures that each transaction is now supported by the upgraded token, aligning Polygon with the broader objectives of decentralization and scalability.
Future Utility of POL within the Aggregated Polygon Community
One of the primary objectives of the POL upgrade is to improve the token’s utility throughout the broader Polygon ecosystem. The migration has laid the groundwork for integrating POL with Agglayer, Polygon’s cross-chain answer.
As soon as group consensus is reached, POL will turn out to be half of this aggregated community, enabling new functionalities and offering extra use circumstances past securing a single community.
Sooner or later, POL could help extra roles, similar to staking rewards and eligibility for group airdrops by the Agglayer Breakout Program. That is anticipated to additional combine POL into the increasing Polygon ecosystem, making it a essential asset for varied initiatives and customers throughout the community.
Tokenomics and Emission Mannequin for POL
The transition from MATIC to POL additionally brings modifications to the tokenomics of the community. The 1:1 ratio for the MATIC to POL improve stays, guaranteeing that every one customers obtain equal worth for their migrated tokens. As well as, the migration launched an emissions mannequin that may allocate 2% of the entire POL provide over the subsequent decade to help community safety and group improvement.
Half of these emissions shall be directed to the Polygon PoS staking contract, rewarding validators who assist safe the community. The opposite half shall be devoted to a group treasury that may help builders and initiatives constructing on Polygon. This emission mannequin is designed to incentivize each the long-term progress and the safe functioning of the community whereas empowering the group to form its future.
Because the migration course of nears full completion, these modifications will assist be sure that Polygon stays a sturdy and revolutionary community, prepared to meet the calls for of each conventional and digital asset customers. The continued integration of POL throughout the broader Polygon ecosystem guarantees to drive the subsequent part of progress and improvement.
