Crypto News: Lufthansa Group Launching Web3 Rewards Program on Polygon Blockchain
Lufthansa Group, the second largest airline in Europe, is planning to launch a Web3-type rewards program based on the Polygon blockchain. This program aims to reward passengers of different airlines within the group. The system will offer collectible digital cards to travelers for specific trips, which can be exchanged with others to complete collections and receive rewards. During the trial phases, over 150,000 collectible cards were distributed to 20,000 participants. The program, called Uptrip, is part of Lufthansa Innovation Hub and offers exclusive rewards such as business lounge access, free airline miles, and frequent traveler status upgrades.
Polygon Revolutionizes Its Token: Introducing POL, the Third-Generation Crypto
Sandeep Nailwal, the founder of Polygon Labs, revealed a major update for Polygon’s native token, MATIC. The token will undergo a transformation and become POL, a “third generation” cryptocurrency. This update is part of the broader Polygon 2.0 proposal, which aims to expand the ecosystem to a network of Layer 2 solutions. The new POL token will offer improvements such as multi-chain staking capability without the usual risks associated with restaking. POL will be staked within a designated “staking hub,” allowing it to be engaged on different chains and play various roles within the network. This innovation opens up new possibilities for cryptocurrency holders.
Hot Take
Lufthansa Group’s decision to launch a Web3 rewards program on the Polygon blockchain is a testament to the growing adoption of blockchain technology in various industries. By leveraging the benefits of blockchain, Lufthansa aims to enhance the travel experience for its passengers and provide them with unique rewards. Similarly, Polygon’s transformation of its native token into POL showcases the continuous development and innovation in the cryptocurrency space. This update introduces new capabilities and opportunities for token holders, further expanding the potential of cryptocurrencies in the market.
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