Polygon Announces Replacement of MATIC Token with POL in Polygon 2.0 Upgrade
Polygon has revealed its plan to replace its native MATIC token with POL as part of the Polygon 2.0 upgrade. The aim is for POL to serve as the main driver of growth and coordination in the Polygon 2.0 ecosystem, aligning with the project’s vision of becoming the value layer of the Internet.
Key Points:
– POL will be at the core of Polygon 2.0, functioning as the engine of growth and coordination.
– POL offers multi-fold utility, including validator staking, which enhances network security.
– POL holders will have governance rights, allowing them to participate in key decision-making processes.
– The initial supply of POL will be 10 billion, equivalent to the supply of MATIC.
– 2% of the entire POL supply will be allocated annually for validator rewards and the community treasury.
Your Hot Take
With the replacement of the MATIC token with POL, Polygon aims to further strengthen its position as a key player in the crypto space. By offering enhanced utility and governance rights, Polygon is creating a more robust and inclusive ecosystem for its community members. This transition to POL marks an exciting new chapter for the project as it progresses towards becoming the value layer of the Internet.
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