Crypto
Polygon Ditches MATIC in Favor of New Native Token POL
Polygon has announced the upgrade of its native cryptocurrency from MATIC to POL, as part of its broader plans for Polygon 2.0.
The technical upgrade, finalized on Sept 4, aims to improve the token's utility and pave the way for future growth.
The new POL token will serve as the network's primary gas and staking token, replacing MATIC.
Marc Boiron, CEO of Polygon Labs, highlighted two key reasons behind the token upgrade: making POL a 'hyperproductive' token capable of earning fees from a wider range of activities beyond just gas and staking.