Polygon 2.0 Deployment on Goerli Testnet Signals Progress
After three weeks of community consultations, the contracts for Polygon 2.0 have been deployed on the Goerli testnet, marking a significant milestone in its development. The deployment follows the specifications outlined in the Polygon Improvement Proposal (PIP) and demonstrates the network’s readiness for the next phase.
New PIPs Introduced to Enhance Polygon 2.0
Based on community feedback, two new PIPs have been introduced. PIP-24 proposes changes to the EIP-1559 burn system, aiming to modify the recipient address of the burn on the Polygon PoS network. PIP-25 aims to adjust the total supply of POL tokens to maintain a 1:1 ratio with previously burnt MATIC tokens, ensuring consistency in the network’s economic mechanisms.
Governance Structure and Ecosystem Council
In the coming weeks, Polygon plans to unveil its new governance structure for Polygon 2.0. This will include the establishment of an Ecosystem Council comprised of thought leaders and technology experts in the Web3 community. The council will play a crucial role in guiding the network towards its goals and ensuring security and efficiency.
Participation in Governance Process Encouraged
For users of Polygon PoS, Polygon zkEVM, or MATIC holders, no immediate action is required. However, community members are encouraged to participate in the governance process and provide feedback on the proposed changes. Node operators and stakers also do not need to take any immediate action.
POL Token: Advancements and Benefits
Polygon POL is designed as the next-generation token to replace MATIC in Polygon 2.0. It enables staking, community ownership, and governance for zero-knowledge-based Layer 2 chains. POL will handle emission and token migration, serving as the native gas token for the Polygon PoS network. This introduction of POL aligns with the vision of scaling Ethereum to the size of the Internet and enhances Polygon’s capabilities.
Hot Take: Exciting Progress for Polygon 2.0
The deployment of Polygon 2.0 contracts on the Goerli testnet is a significant step forward for Polygon’s development. With new PIPs introduced and the upcoming governance structure, Polygon is positioning itself as a leading network in the Web3 community. The introduction of POL tokens further strengthens its capabilities and aligns with its goal of scaling Ethereum to new heights. As a user or participant in the Polygon network, your involvement in the governance process is encouraged to contribute to its success.
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