Polygon Labs’ Major Upgrade

Polygon Labs is making a major move! Starting September 4, 2024, they will transition from the current MATIC token to the new POL token as part of their ambitious Polygon 2.0 upgrade. First announced in July 2023, this transformation will establish POL as the primary token across all Polygon networks.

What Does This Mean for You?

Polygon’s Main Network

If you hold MATIC tokens on Polygon’s main proof-of-stake (PoS) chain, you’re in luck! No action is required on your part—your MATIC tokens will be automatically converted to POL tokens.

Other Platforms

For users who hold MATIC tokens on Polygon’s zkEVM rollup, centralized exchanges, or the Ethereum blockchain, additional steps will be necessary to complete the transition. For detailed guidance, check Polygon’s official blog.

Why POL? The Benefits of the New Token

The transition to POL is more than just a rebranding—it’s a game-changing upgrade. Here’s why POL is set to enhance the Polygon ecosystem:

• Hyperproductive Token: POL will serve as the gas and staking token for Polygon’s PoS chain.
• Enhanced Security: In addition to PoS, POL will help secure multiple blockchains within Polygon’s expanding network, including the cutting-edge AggLayer.
• Scalability & Innovation: POL is designed to optimize network efficiency and support Polygon’s broader vision for seamless interoperability.

Tested and Ready for the Future

Polygon Labs conducted a controlled test network upgrade on July 17, 2024, to ensure a smooth and secure transition. The test helped identify and resolve potential issues before POL officially goes live on the mainnet.

Stay Informed and Prepare for the Transition

As the migration date approaches, it’s crucial to stay updated with the latest announcements, guides, and support materials to ensure a seamless transition.

Join the Community!

Stay connected with PolyLegends for real-time updates and insights on how this transformation will enhance the Polygon ecosystem and benefit the community!