Polygon, the biggest Ethereum scaling resolution has introduced a big replace for its community, marking the transition from MATIC to POL tokens as its native asset. Scheduled for September 4, this migration will exchange MATIC with POL, taking part in an important function within the Polygon ecosystem, together with its place throughout the AggLayer.
MATIC to POL Migration
Polygon, a number one blockchain platform, has confirmed that POL will function the brand new gasoline and staking token for the Polygon PoS (Proof-of-Stake) community, taking up from MATIC. This variation goals to boost the community’s performance and help future developments inside Polygon’s rising ecosystem.
MATIC holders throughout varied platforms, together with Ethereum, Polygon zkEVM, and centralized exchanges (CEX), might want to take steps emigrate their tokens to POL. Nevertheless, they may obtain new POL tokens on a 1:1 foundation, retaining the overall provide unchanged.
The method is crucial for continued participation within the community’s staking and transaction actions, aligning with the platform’s evolving infrastructure. It’s anticipated to boost the effectivity and scalability of Polygon’s operations.
Function of POL within the AggLayer
Introducing POL isn’t just a token swap however a strategic transfer to strengthen Polygon’s AggLayer, an integral part of the community’s scaling options. AggLayer goals to create a unified ecosystem of networks utilizing the Polygon Chain Growth Package (CDK), avoiding the centralization and safety dangers linked with typical centralized bridges.
Polygon said that POL will play a “essential function” within the multi-chain AggLayer ecosystem, pending group governance. The token is about to energy Polygon’s upcoming Staking Hub, anticipated to launch subsequent yr.
MATIC To Surge By 20%
MATIC is at the moment buying and selling at $0.41, down 59% year-to-date, marking a considerable decline for the cryptocurrency. In July 2024, MATIC broke out of its long-standing downtrend, exhibiting indicators of potential restoration.
Technical evaluation signifies that MATIC might acquire one other 20.90%, doubtlessly reaching $0.50, a key degree that beforehand served as robust help between July 2023 and August 2024.
On the 4-hour chart, MATIC’s value reveals refined actions, with the Shifting Common Convergence Divergence (MACD) indicator suggesting constructive momentum.
