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Polygon is set to undergo a mainnet upgrade on September 4, 2024, transitioning from its native token, MATIC, to a new token, POL, following community approval. The testnet migration, launched on July 17, aimed to identify and address potential issues before the mainnet transition.
After the upgrade, POL will replace MATIC as the primary token for gas fees and staking. Current MATIC holders on the Polygon PoS network will experience an automatic transition to POL, while those with MATIC on Ethereum, Polygon zkEVM, or centralized exchanges will follow specific migration procedures outlined by the core developers. Developers and stakers on Ethereum will have their tokens automatically converted, with an opt-out option.
This upgrade is part of Polygon’s broader strategy to enhance interoperability and security through the upcoming Polygon 2.0 architecture. The AggLayer will link Polygon 2.0 chains, settling ZK-based security proofs on Ethereum. The zkPoS Phase 1 proposal aims to integrate Polygon PoS with the AggLayer, transitioning it into a zkEVM Validium.
