Almost 6 months ago, Polygon announced its plans for Polygon 2.0. This major update of the ecosystem will notably introduce a new token, POL. A few weeks after its launch on the testnet, it was deployed on the Ethereum mainnet.
Polygon unveils POL on the mainnet
Last June, Polygon announced Polygon 2.0. In practice, this update includes a series of major developments for Polygon.
On the one hand, it introduces the POL tokenwho is coming replace MATIC token. The objective is to align the new token with the Polygon 2.0 architecture.
On October 25, the Polygon teams announced the deployment of the POL token on the Ethereum mainnet.
“POL is a next-generation token that can power a large ecosystem of zero-knowledge-based L2 chains. It does this by using a native re-staking protocol that allows POL holders to validate multiple chains and play multiple roles on each, turning POL into a hyperproductive token. »
In practice, the deployment of the POL token follows the proposal PIP-17, evolution of the protocol. It is part of a series of 3 major proposals for the implementation of Polygon 2.0.
However, this is only a part of PIP-17, which also includes the transition from MATIC token to POL token, which has not yet been announced.
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Polygon 2.0: future developments
Logically, after the deployment of the POL token, should come the migration of the MATIC towards POL. These should be tradable at a 1:1 ratio.
Once the transition from the MATIC token to the POL token, Polygon teams will be able to move on to the next stage, PIP-19.
Indeed, the PIP-19 is the 3rd proposal to initiate Polygon 2.0. This proposal aims to completely abandon the MATIC token in favor of POL. Therefore, POL will become the native token for all chains in the Polygon ecosystem.
For its part, Ethereum is doing quite well. Thus, ETH also benefited from the recent rise in Bitcoin, to the point of flirting with $1,900. For their part, the developers prepare for Cancun Deneb, the network’s next update.
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