Polygon lately equipped extra main points at the proposed migration of MATIC tokens to its unused POL tokens. This methods a part of Polygon’s plan to assemble “aggregated blockchains” as its leading edge technique to scaling those networks.
The whole lot To Know About MATIC’s Migration To POL
Polygon viewable in a weblog put up that the mainnet improve from MATIC to POL is anticipated to happen on September 4. Within the preliminary segment of the improve, the POL token will substitute MATIC because the fuel and staking token of the Polygon PoS (proof-of-stake) community. In the meantime, relying at the folk’s choice, POL’s significance may just lengthen to Polygon’s aggregation layer (AggLayer).
The community viewable {that a} testnet migration went survive July seventeenth, indicating their preparedness to progress with this ancient improve. As a part of the improve, MATIC holders on Polygon PoS received’t required to do anything else, as POL will mechanically be upgraded to develop into the community’s significance token with out customers having to do anything else.
On the other hand, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges (CEXs) will want to remove motion in the event that they want to improve their MATIC tokens to POL. MATIC holders on Ethereum might be given a migration agreement, which is already deployed to allow holders to improve from MATIC to POL permissionless.
MATIC holders who do not need the technical perception to worth those migration commitments can worth a third-party decentralized trade (DEX) aggregator. Those DEXs already built-in the migration commitments, so holders can simply switch their MATIC tokens for POL tokens.
MATIC holders on Polygon zkEVM within the improve might bridge their MATIC tokens from zkEVM to Ethereum and later worth the migration commitments to replace their MATIC tokens to POL. On the other hand, they may be able to worth a zkEVM DEX or DEX aggregator to switch their MATIC tokens to POL.
Polygon famous that MATIC holders on CEXs would possibly want to assessment the steerage equipped through their specific trade to know how emigrate from MATIC to POL. On the other hand, they added that the majority main exchanges will most probably mechanically lend a hand customers with this improve.
Selling Blockchain Interoperability And Scaling Ethereum
The POL improve methods a part of Polygon’s heavy plan to advertise blockchain interoperability and additional scale the Ethereum community. In the end, POL is anticipated to develop into the local token of Polygon’s AggLayer, which is solely a community of zero-knowledge (ZK) powered layer-2 chains.
Those chains can have get admission to to shared liquidity, customers, and condition throughout all networks at the AggLayer. That is the place POL is available in, as customers on any of those chains at the AggLayer will not want to bridge tokens and ship a wrapped model since they may be able to simply ship the local POL token throughout those chains.
From an Ethereum standpoint, chains at the AggLayer are taken as a unmarried rollup. As such, Ethereum holders can simply walk their ETH tokens throughout those chains year maximizing essentially the most of each and every chain.
Featured symbol created with Dall.E, chart from Tradingview.com