Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Polygon Labs Announces Official Rebranding of MATIC Token to POL Following Major Tech Upgrade in September
ALTCOIN NEWS

Polygon Labs Announces Official Rebranding of MATIC Token to POL Following Major Tech Upgrade in September

By Crypto FlexsJuly 20, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Polygon Labs Announces Official Rebranding of MATIC Token to POL Following Major Tech Upgrade in September
Share
Facebook Twitter LinkedIn Pinterest Email

The development team behind Polygon (MATIC), a two-layer scaling solution, has announced that the ecosystem’s native asset will be officially renamed to POL after a major network upgrade later this year.

Polygon Labs announced in a new blog post that starting September 4, MATIC will be replaced with POL, the blockchain’s native gas and staking token.

“As an upgrade to MATIC, POL will initially be the gas and staking token for Polygon Proof-of-Stake (PoS). In later stages, the community may decide to expand the utility of POL to play a significant role in AggLayer.”

AggLayer is a project from Polygon that aims to unify liquidity.

According to Polygon Labs, anyone holding MATIC on the Polygon network will not need to take any action. However, anyone holding tokens on Ethereum (ETH), Polygon’s Ethereum Virtual Machine, or centralized exchanges may need to go through a migration process.

The developers elaborate on how POL has both long-term and short-term potential as the ecosystem’s primary token.

“In the long term, the current community consensus suggests that POL will support a broader role on the Polygon Staking Hub (scheduled to launch in 2025), including block production, zero-knowledge proof generation, and participation in the Data Availability Committee (DAC)…

As per the proposal, we have reached a consensus that Polygon PoS validators should stake POL to earn protocol rewards and POL transaction fees. This means that starting from 9/4, all transactions that occur on Polygon PoS will use POL as the native gas token. This is the short-term utility.”

The token rebranding was first proposed in July last year as a means to accelerate network growth. A few weeks later, Polygon Labs founder Sandeep Nailwal explained that the proposal was part of the blockchain’s transition to Polygon 2.0.

As Nailwal said at the time,

“POL provides the benefits of multi-chain staking without the added risk of re-staking. With the Polygon 2.0 proposal, the Polygon ecosystem expands to a Layer 2 (L2) ecosystem where single chains can easily interoperate with each other and share liquidity.”

At the time of writing, MATIC is trading at $0.531, up 3.5% over the last 24 hours.

Don’t miss out on the latest news – subscribe to receive email notifications straight to your inbox.

Price check task

Follow us XFacebook and Telegram

Surfing the Daily Hodl Mix

&nbsp

Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

Generated image: Midjourney

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana Whale will not announce $ 17 million in four years. Should I worry?

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

Despite market volatility

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

CUDIS bets on longevity exercises by betting on wearable, AI and solana tokens.

June 8, 2025

VEXI Village unveils new features and events in June.

June 7, 2025

Solana Whale will not announce $ 17 million in four years. Should I worry?

June 7, 2025

HOLONYM’s Human Network: Convert on boarding on boarding on human -friendly keys

June 7, 2025

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

CUDIS bets on longevity exercises by betting on wearable, AI and solana tokens.

June 8, 2025

VEXI Village unveils new features and events in June.

June 7, 2025

Solana Whale will not announce $ 17 million in four years. Should I worry?

June 7, 2025
Most Popular

Ethereum Development Update 2015 / Week 44

April 21, 2024

South Korea’s retail cryptocurrency trading volume hit $18 billion, outpacing the local stock market.

December 3, 2024

Trader Says Altcoins in Bitcoin Ecosystem Have Lots of Room to Run, Updates Outlook on SEI and BONK

January 12, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.