Polygon developers have announced the exciting transition of the MATIC token to the new POL token on their Proof of Stake (PoS) chain. This change introduces POL as the native gas and staking token, maintaining the original 10 billion token supply and MATIC’s established tokenomics. The upgrade, a key part of Polygon’s evolution into a Zero-Knowledge (ZK) chain and integration with AggLayer, is designed to enhance liquidity and interoperability across multiple chains.

The switch to POL marks a significant milestone, with the initial exchange rate set at 1:1. A gradual increase in emissions over ten years aims to foster network growth and incentivize participation by new validators. As the upgrade progresses, MATIC holders on the Polygon PoS chain will automatically transition to POL, whereas those on other platforms will need to migrate their tokens manually.

With the upgrade, POL will play a crucial role in block production, zero-knowledge proof generation, and participation in Data Availability Committees, advancing Polygon’s capabilities in the cryptocurrency ecosystem. This strategic move positions Polygon as a leader in blockchain scalability and efficiency.