07.09.2024
Updated Polygon with the POL token instead of MATIC
The update initiated by the community is taking place at a critical time for Polygon. AggLayer combines the liquidity and data of all chains, solving the problem of blockchain fragmentation. If the Agg concept gets approved, Polygon PoS will connect to AggLayer and become a ZK chain, integrating POL into a wider network.
At the first stage of migration, POL will become a native token for commissions and staking on Polygon PoS, replacing MATIC. Further steps will depend on community decisions, but POL will remain a key element of the new system.
Main changes and innovations
- Backward compatibility: existing applications and users will be able to switch to POL without any problems.
- Native token: POL now provides all transactions and network security.
- Future opportunities: plans for 2025 include creating a staking hub and supporting more complex network models.
- POL will have an emission of 2% per hour over the next decade to maintain network security. Half of the tokens will go to staking, the second — to development through community grants.
- Infrastructure developers and suppliers will have to perform additional technical actions, which are presented in the company's blog.