Key Takeaways
- Polygon Labs unveils POL, the upgraded token of the Polygon protocol, as part of the Polygon 2.0 announcement.
- POL offers productivity and participation opportunities to token holders, allowing them to become validators and receive rewards.
- The upgrade brings significant improvements, such as the ability to validate multiple chains and the flexibility for chains
Polygon Labs, the pioneering force behind the popular Polygon protocol, has made a major announcement today. The team revealed the introduction of POL, the upgraded token that promises to redefine the landscape of native assets. This technical upgrade proposes significant improvements for MATIC holders, who will have the opportunity to participate in the upgrade process.
POL stands as a proposed advancement of MATIC. It offers unique features that distinguish it from native tokens like Bitcoin (BTC) and Ethereum (ETH). One of its most prominent features is the productivity and participation opportunities it provides to token holders. By owning POL, individuals can become validators, contributing to the security and decentralization of the Polygon network. In return for their participation, validators will receive rewards, allowing them to earn while supporting the ecosystem.
The upgrade to POL brings several noteworthy improvements. Most notably, POL will have the capability to validate multiple chains, expanding the potential for interoperability within the Polygon ecosystem. Chains will also gain the flexibility to offer multiple roles and corresponding rewards to validators, further incentivizing active participation. This enhanced functionality aims to create a thriving ecosystem where validators can choose from various roles and earn rewards based on their contributions.
Polygon Labs has assured MATIC holders that the upgrade process will be seamless. The conversion ratio for MATIC holders will be 1:1, meaning that they will receive an equivalent amount of POL for every MATIC token they hold. This ensures that there will be only one native token within the Polygon ecosystem, providing clarity and unity among token holders.
The introduction of POL marks a significant milestone in the advancement of the Polygon ecosystem. With its unique features, including productivity opportunities for token holders and the ability to validate multiple chains, POL has the potential to reshape the native asset landscape. Polygon Labs invites its community to stay updated on further developments, emphasizing the importance of keeping a close eye on the progress of Polygon 2.0 and the transformative power of POL.
Source
https://twitter.com/0xPolygonLabs/status/1679427540790681600?s=20
