Get Ready for the Polygon Migration from MATIC to POL
Today marks a significant milestone for Polygon as it undergoes a key technical transition, moving its native cryptocurrency from MATIC to POL. The migration is set to occur today, bringing about improvements to the network’s functionality and aligning with Polygon’s vision as a network of interconnected blockchains.
The Shift from MATIC to POL
**Migration Process:**
- The migration process is scheduled to take place today, as announced on Polygon’s official Twitter account.
- POL aims to be a “hyperproductive” token, serving as the primary gas and staking token on Polygon’s proof-of-stake blockchain.
- **Network Support:**
- POL will support the network’s expansion and security as an aggregated network of blockchains.
- **Tokenomics:**
- There will be a 2% annual emission rate, marking a shift in tokenomics for Polygon.
What MATIC Holders Should Know
**Migration Guidelines:**
- Users wanting to transfer from MATIC to POL should be cautious of potential scams and ensure no immediate deadline exists.
- **Migration Options:**
- Users can complete the migration at their convenience, with some decentralized applications already providing integration for easier migration.
- **Migration Interface:**
- Refer to the tweet above and the Polygon Portal for a user-friendly interface to facilitate the migration process.
- **Advanced Users:**
- Advanced users should exercise caution when interacting directly with the contract to avoid any potential loss of funds.
- **Staker Considerations:**
- MATIC stakers on Ethereum need not take any action, as all staked MATIC will automatically be upgraded to POL.
Despite a slight loss in MATIC’s price over the past 24 hours, with a 6.8% decline, it remains the 27th largest cryptocurrency by market capitalization.
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