Home web3.0 Polygon (MATIC) Finally Migrates to Its New Token (POL) Targeting Scalability and Efficiency

Polygon (MATIC) Finally Migrates to Its New Token (POL) Targeting Scalability and Efficiency

Jul 19, 2024 pm 02:35 PM

Polygon initially proposed the change to its community in July last year. After the migration, POL will become the main token for all Polygon networks.

Polygon (MATIC) Finally Migrates to Its New Token (POL) Targeting Scalability and Efficiency

Polygon (MATIC) is preparing for a significant upgrade that will introduce a new native token, POL. The migration from MATIC to POL is set to occur on September 4. Here's a summary of the key points:

- Polygon initially proposed the change to its community in July last year. After the migration, POL will become the main token for all Polygon networks.

- Holders of MATIC on the Polygon blockchain will not need to take any action to swap it for POL. However, holders on the Ethereum Mainnet or centralized exchanges may need to migrate.

- Polygon has deployed a migration contract that will enable holders to exchange their tokens on Ethereum permissionlessly. MATIC delegators and stakers on Ethereum also do not need to do anything.

- The testnet migration went live on Wednesday, July 17.

Polygon decided to make POL its new native token because it has better utility and functionality than MATIC.

- POL aims to support a more diverse set of use cases, including staking, governance, and transaction fees.

- POL is part of a broader upgrade to the Polygon protocol, which aims to improve scalability and efficiency. This upgrade is expected to support more advanced features and enable Polygon to handle more transactions more effectively.

- Polygon aims to better align incentives within its ecosystem by introducing a new token. POL encourages participation from validators, developers, and users, fostering a more robust and active community.

The above is the detailed content of Polygon (MATIC) Finally Migrates to Its New Token (POL) Targeting Scalability and Efficiency. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Roblox: Bubble Gum Simulator Infinity - How To Get And Use Royal Keys
1 months ago By 尊渡假赌尊渡假赌尊渡假赌
Nordhold: Fusion System, Explained
1 months ago By 尊渡假赌尊渡假赌尊渡假赌
Mandragora: Whispers Of The Witch Tree - How To Unlock The Grappling Hook
4 weeks ago By 尊渡假赌尊渡假赌尊渡假赌

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Hot Topics

Java Tutorial
1677
14
PHP Tutorial
1280
29
C# Tutorial
1257
24
Bitwise Announces the Listing of Four of Its Crypto ETPs on the London Stock Exchange (LSE) Bitwise Announces the Listing of Four of Its Crypto ETPs on the London Stock Exchange (LSE) Apr 18, 2025 am 11:24 AM

Bitwise, a leading digital asset manager, has announced the listing of four of its crypto Exchange-Traded Products (ETPs) on the London Stock Exchange (LSE).

Movement Labs and the Movement Network Foundation have launched an independent investigation into recent market-making irregularities related to the MOVE token. Movement Labs and the Movement Network Foundation have launched an independent investigation into recent market-making irregularities related to the MOVE token. Apr 16, 2025 am 11:16 AM

nt Labs and the Movement Network Foundation Launch Independent Investigation into MOVE Token Market-Making Irregularities

A wave of capital is flowing out of Ethereum [ETH] and into Tron [TRX] A wave of capital is flowing out of Ethereum [ETH] and into Tron [TRX] Apr 16, 2025 am 11:14 AM

With $1.52 billion in stablecoins migrating to Tron, investors appear to be favoring lower-cost chains and diversifying beyond traditional USD-backed assets.

WalletConnect Launches Its $WCT Token on Top Cryptocurrency Exchanges WalletConnect Launches Its $WCT Token on Top Cryptocurrency Exchanges Apr 16, 2025 am 10:32 AM

WalletConnect is excited to announce the official launch of its $WCT token to display the powerful momentum and market confidence.

The Pi Network token price has increased by more than 14% over the past week. The Pi Network token price has increased by more than 14% over the past week. Apr 16, 2025 am 11:22 AM

As of press time, Pi is trading at $0.6711 after its integration with Chainlink on April 12th. The announcement caused a surge in the price of Pi

Bitcoin (BTC) reclaims $85,000, setting the stage for altcoins to rally Bitcoin (BTC) reclaims $85,000, setting the stage for altcoins to rally Apr 16, 2025 am 10:04 AM

Bitcoin (BTC) is back above $85,000, and BTC dominance is climbing towards its four-year peak. This may be the perfect time for altcoins with a high BTC

One of only 10 examples struck in this precious metal, it will highlight the firm's upcoming 2025 Summer Global Showcase Auction. One of only 10 examples struck in this precious metal, it will highlight the firm's upcoming 2025 Summer Global Showcase Auction. Apr 18, 2025 am 11:08 AM

While 3,500 examples of the 1945 inaugural medal in bronze were struck to be sold to the public and are offered today on a regular basis, gold examples are another matter entirely.

Bitcoin (BTC) Sentiment Is Turning Bullish as Over $467 Million of the Cryptocurrency Was Withdrawn From Exchanges Yesterday Bitcoin (BTC) Sentiment Is Turning Bullish as Over $467 Million of the Cryptocurrency Was Withdrawn From Exchanges Yesterday Apr 16, 2025 am 11:18 AM

Following today's data released by IntoTheBlock, sentiment around Bitcoin appears heightening towards bullishness.