The migration of MATIC to POL Token by Polygon will happen soon. 😊

Important Milestone: Upcoming Polygon Mainnet Upgrade

Attention all crypto enthusiasts! A significant event is on the horizon in the world of Polygon. This year, Polygon is gearing up for a major mainnet upgrade that will introduce a new native token and fresh smart contracts to the platform.

The Migration Process Unveiled

Here are some key points to note about the migration process:

Polygon PoS validators will need to stake POL for protocol rewards and transaction fees.
Starting on September 4, POL will replace MATIC as the native gas and staking token for Polygon PoS.
This migration aligns with the larger “Polygon 2.0” plan unveiled last year.

Community Consensus and Timeline

After gaining community consensus, the much-anticipated upgrade is slated for September 4. Here’s a breakdown of the timeline:

Initial Phase: POL takes over as the native gas and staking token for Polygon PoS.
Subsequent Phases: POL plays a vital role in the AggLayer.

Polygon 2.0 Architecture Enhancements

The upcoming Polygon 2.0 architecture aims to:

Enhance network security and efficiency.
Unify liquidity and improve interoperability across multiple ZK-Rollup chains.
Introduce AggLayer to link Polygon 2.0 chains and secure ZK-based security proofs on Ethereum.

Expanded Utility of the POL Token

In the long run, the POL token is expected to:

Provide services to all chains in the Polygon network, including the AggLayer.
Play diverse roles in the Polygon staking hub, such as block generation and participation in DACs.

Impact on MATIC Holders

Here’s what MATIC holders can expect during the transition:

Seamless conversion of MATIC to POL for holders on the Polygon PoS chain.
Option for MATIC holders on Ethereum, Polygon zkEVM, or CEXes to upgrade to POL through a migration contract.
Testnet deployment of the POL upgrade on July 17 to ensure a smooth mainnet migration.