Polygon (MATIC) to POL Token Upgrade Is Now Live, Here's What Happens Next

Polygon's new evolution reached the point of deployment, which is a landmark in the blockchain's progress. The long-awaited transition from MATIC to POL has been launched and comes with a lot of changes and enhancements for users across the network.

Polygon’s highly anticipated evolution has reached the point of deployment, marking a significant milestone in the blockchain’s progress. The long-awaited transition from MATIC to POL has finally been launched, bringing forth a wave of changes and enhancements for users throughout the network. Following a year of extensive community discussions and consensus-building, POL is now the native gas and staking token for all transactions on the Polygon PoS network.

The MATIC to POL upgrade is now live, following a year of community-led discussions and consensus. Here's what happens next: Starting today, every transaction on Polygon PoS uses the hyperproductive token as the native gas and staking token.

Expanding POL’s Role in Polygon’s AggLayer EcosystemThe Polygon team has announced that starting today, every transaction on Polygon PoS will be carried out with POL, the newly upgraded token, instead of MATIC. With this upgrade, Polygon further cements its role as an aggregator, or AggLayer, a type of blockchain network that aims to unify liquidity and state across multiple chains. This is not merely a token switch but also signifies a fundamental change in the network’s architecture and scaling mechanism.

A MATIC user on Ethereum can seamlessly transition to POL through the Polygon Portal Interface, which will automatically perform a 1:1 migration. Meanwhile, MATIC holders on Polygon PoS will automatically receive the upgraded token, but users are advised to manually change the token symbol in their wallet’s network settings to reflect “POL” instead of “MATIC.” This minor adjustment is crucial to prevent any display issues in wallet interfaces.

The POL token embodies a new identity and is imbued with novel utilities and hyperproductive features that contribute to securing and operating the entire network. In the first phase, POL assumes the role of gas and staking tokens, providing the essential foundation for transactions and network functions. Subsequent phases, subject to community approval, will expand POL’s役割 within the AggLayer ecosystem, enhancing its utility across a broader network of aggregated blockchains.

The upgrade also introduces substantial changes in tokenomics. POL’s emission model incorporates 2% inflation over a decade as part of an emission mechanism designed to bolster network security and foster community development. Of this emission, 50% will be credited to the network PoS staking contract to compensate validators, while the remaining 50% will be deposited in a community treasury, enabling the allocation of funds to builders under the prevailing governance system.