The Big Switch: From MATIC to POL
Polygon Labs is gearing up for a big change! Starting on September 4, 2024, they will upgrade from the current MATIC token to the new POL token as part of their “Polygon 2.0” plan, first announced in July 2023. This means POL will become the main token for all Polygon networks.
What Does This Mean for You?
Polygon´s Main Network
If you have MATIC tokens on Polygon’s main proof-of-stake (PoS) chain, you don’t need to do anything. Your MATIC tokens will automatically change to POL tokens.
Other Platforms
If you use MATIC on Polygon’s zkEVM rollup, on centralized exchanges, or on the Ethereum blockchain, you will need to follow some extra steps to make the switch. You can find detailed instructions on Polygon’s official blog.
Why POL?
POL is not just a new name; it’s a whole new approach. As a “hyperproductive token,” POL will be the main gas and staking token for Polygon’s PoS chain. In the future, POL will also help secure other blockchains within Polygon’s network, including the new AggLayer.
Tested and Ready
Polygon tested this upgrade on July 17, 2024, in a controlled test network environment. This was to find and fix any issues before the POL token goes live on the mainnet.
Stay Informed
As the migration date gets closer, keep an eye out for updates and guides to help you through the change. This move to POL is a big milestone for Polygon, and we’re excited to see how it will improve the Polygon ecosystem.
Stay connected with PolyLegends for the latest updates and how these changes will benefit our community!