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Polygon Sets September 4th for Migration to POL Token from MATIC

Twitter icon  •  Published 5 months ago on July 19, 2024  •  Hassan Maishera

The Polygon Labs team announced via X on Thursday that it will be performing the technical upgrade that swaps out its MATIC token for its new POL token starting on Sept. 4.

Polygon Sets September 4th for Migration to POL Token from MATIC

The Polygon Labs team announced via X on Thursday that it will be performing the technical upgrade that swaps out its MATIC token for its new POL token starting on Sept. 4.

The initial phase will see POL replace MATIC as the native gas and staking token for Polygon PoS. The next phase will see POLl serve a crucial role in the AggLayer. POL aims to provide security for Polygon as an aggregated blockchain network, unifying liquidity and shared state across multiple chains.

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC is down by 6% in the last 24 hours and is currently trading at $0.5148.

 

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.