Key Takeaways:
- Token Migration: Polygon Labs will migrate from MATIC to POL tokens on September 4, enhancing its layer 2 chains ecosystem.
- New Token Roles: POL will replace MATIC as the native gas and staking token and support block and zero-knowledge proof generation by 2025.
- Manual Upgrades: MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges must manually upgrade to POL through bridging or updating smart contracts.
Polygon Labs will migrate from MATIC to POL tokens on September 4, as part of the Polygon 2.0 roadmap to enhance its zero-knowledge-based layer 2 chains ecosystem.
The upgrade, tested on the Polygon testnet since July 17, will see POL replacing MATIC as the native gas and staking token for Polygon PoS.
SAVE THE DATE: MATIC → POL
— Polygon Foundation (@0xPolygonFdn) July 18, 2024
After community consensus, the long-awaited upgrade is set for September 4th
• Initial phase: POL replaces MATIC as the native gas and staking token for Polygon PoS
• Subsequent phases: POL will serve a crucial role in the AggLayer
More details🧵 pic.twitter.com/SyxsFAlOeZ
POL will support broader roles, including block generation and zero-knowledge proof generation, by 2025.
MATIC holders on Polygon PoS will be automatically upgraded to POL, while those on Ethereum, Polygon zkEVM, or centralized exchanges must manually upgrade through bridging or updating smart contracts.
Users should also update RPC settings in wallets to ensure the correct token symbol displays.
Polygon Labs is collaborating with the TON Application Chain (TAC) to integrate EVM functionality, enabling EVM-compatible decentralized applications on TAC.
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