Polygon Unveils POL Token, Signaling a New Era of Blockchain Evolution: The AggLayer

On September 4, 2024, Polygon is set to introduce its new native token, POL, marking a significant shift from the existing MATIC token.

Polygon, a popular Ethereum (ETH) scaling solution, is set to introduce its new native token, POL, on September 4, 2024, in a move that will mark a significant shift from the existing MATIC token. This upgrade is part of Polygon's broader strategy to evolve from a single proof-of-stake (PoS) network into an expansive ecosystem of blockchains powered by zero-knowledge (ZK) technology. Here's a closer look at everything you need to know about this MATIC to POL migration and what it means for the future of Polygon.

Polygon began its journey in 2017 with the launch of the Matic Network by Jaynti Kanani and Sandeep Nailwal. After being recognized for its fast and cost-effective Ethereum sidechain solution, the platform rebranded to Polygon in 2021 and positioned itself as a leading Ethereum scaling solution. Now, as part of its grand vision, Polygon is introducing the AggLayer — a scalable multichain network that will unify and secure numerous ZK-powered blockchains.

The AggLayer will enable seamless cross-chain transactions and connect directly to the Ethereum L1 via a single bridge, simplifying the ecosystem. Developers will also gain access to tools like the Polygon Chain Development Kit (CDK) and zkEVM prover kit, which will allow them to easily create and integrate new blockchains within the AggLayer.

As for the POL token, it will replace MATIC on a 1:1 basis starting September 4, 2024, and will serve as the new gas fee payment and staking token on the Polygon PoS blockchain. According to Polygon, the POL token is a "third generation" crypto token that expands the utility and enhances validator incentives.

For MATIC holders on the Polygon PoS chain, no action is required — your tokens will automatically convert to POL on September 4, 2024. However, those holding MATIC on Ethereum or Polygon zkEVM must use a migration contract to exchange their tokens. Some centralized exchanges will handle this conversion automatically, but it's always a good idea to verify this with your exchange. For the Full Migration Guide, you can check the one on the Polygon Official Website.

The launch of the POL token marks the beginning of a new chapter for Polygon, as it sets out to tackle blockchain fragmentation and enhance user experience within the crypto space. By embracing the AggLayer vision, Polygon is positioning itself as a key player in the future of blockchain technology.

The above is the detailed content of Polygon Unveils POL Token, Signaling a New Era of Blockchain Evolution: The AggLayer. For more information, please follow other related articles on the PHP Chinese website!