Polygon Labs Sets September Date for Migration to POL Token from MATIC

The migration comes as a part of Polygon's planned revamp laid out last year in its "Polygon 2.0" roadmap.

Layer-2 blockchain Polygon is set to begin migrating its network from the MATIC token to its new POL token on Sept. 4.

The migration is part of a broader revamp of the Polygon network, which was outlined in its “Polygon 2.0” roadmap last year. The change was initially proposed to the community in July 2023, and would make POL the main token for all Polygon networks.

“This technical upgrade will make POL the native gas and staking token for the main Polygon Proof-of-Stake (PoS) chain,” wrote Polygon Labs in a blog post Wednesday. “In subsequent phases of the upgrade, POL will also begin securing other blockchains in the wider Polygon ‘aggregate’ network, including the AggLayer.”

According to the Polygon team, MATIC holders on the Polygon PoS chain “do not need to take any action for this upgrade and will see their MATIC tokens appear as POL tokens.”

However, those using MATIC on Polygon’s zkEVM rollup, on centralized exchanges or on the Ethereum blockchain will need to follow various steps outlined in the blog post.

As part of the network migration, Polygon will be testing the token upgrade on July 17 in a test network environment to “identify and resolve any issues before POL goes live on mainnet.”