- POL may exchange MATIC as Polygon’s native token.
- The introduction would enable holders to behave as validators.
Polygon [MATIC] Labs’ new proposal might even see the mission’s native token make method for an upgraded one. In keeping with the Ethereum [ETH] scaling resolution, MATIC could possibly be changed with POL if the technical proposition passes approval.
How a lot are 1,10,100 MATICs value immediately?
ZK requires POL
From the tokenomics particulars shared, POL may not be an entire change from MATIC. As a substitute, it might be a third-generation native token that aligns with Polygon 2.0— the redesigned protocol infrastructure.
1/ Right this moment, the following technical proposal of Polygon 2.0 is unveiled:
POL, the upgraded token of the Polygon protocol! 💫
POL is the following era native token, designed to safe, align and develop the Polygon ecosystem.
Watch the video to get an concept how cool it’s, then 🧵 pic.twitter.com/Gn7KcHpWEY
— Polygon (Labs) (@0xPolygonLabs) July 13, 2023
Lately, the web3 agency launched Polygon 2.0 because the community’s Zero-Information (ZK) powered cross-chain coordination protocol. Polygon had talked about that the two.0 can be the “worth layer of the web” which unifies the L2 chains with liquidity and scalability.
Moreover, Polygon, utilizing Ethereum for example, defined that POL can be a “hyperproductive” token that allows holders to grow to be validators as it might solely require a easy sensible contract improve for MATIC. POL’s tokenomics learn,
“Polygon’s POL takes the following leap on this course and introduces the third era of native property – hyperproductive tokens. Equally to productive tokens, it permits its holders to grow to be validators and obtain rewards, however with two game-changing enhancements.”
Since 2020, MATIC has been the native token of the Polygon community. And in accordance with CoinMarketCap, the token’s all-time efficiency was a 17,347% improve. However within the final 90 days, MATIC’s worth has decreased by 34.56%.
MATIC’s exit has been within the works
Nonetheless, Polygon cleared the air that if the technical proposal will get authorised, MATIC would stop to exist.
“Virtually talking, POL is an improve and renaming of the MATIC token. From the protocol viewpoint, MATIC and POL wouldn’t and can’t coexist; POL can solely exchange MATIC.”
Nonetheless, the mission additionally famous the choice to attempt to deploy a brand new token had nothing to do with SEC’s determination to label MATIC as an unregistered safety. In June, MATIC appeared within the listing of tokens the regulatory physique described as unregistered securities in a lawsuit in opposition to Binance.
Regardless of Polygon’s rebuttal that the token was not a safety, buying and selling platform Robinhood delisted MATIC from its platform. Now, Polygon stated the POL concept had been within the works for nearly a 12 months. It additionally famous that it had been in its long-term plan because the rebranding of MATIC Community to Polygon.
Is your portfolio inexperienced? Examine the Polygon Revenue Calculator
In the meantime, the crypto group had blended reactions to the disclosure. For some, taking a dig at Bitcoin [BTC] and calling it an “unproductive asset” was pointless.
Another feedback identified how the event may mark the start of a bull market just like the final rebrand.
