Polygon’s POL Token Contracts Goes Live On Ethereum

Polygon Labs on Wednesday introduced that the POL token improve is now stay on the Ethereum mainnet as a part of the Polygon 2.0 roadmap. The POL token will exchange the MATIC token as Polygon’s next-generation hyperproductive ecosystem which incorporates the principle Polygon blockchain, the Polygon zkEVM community, and varied supernets.

POL Token Contacts Is Live On Ethereum Mainnet

Polygon Labs in a press release on October 25 revealed that POL token improve is now stay on the Ethereum mainnet. As a part of the Polygon 2.0 roadmap, the brand new POL token will exchange the MATIC token because the ecosystem’s native token.

“Today marks a major milestone on the Polygon 2.0 journey toward building the Value Layer of the Internet. The upgrade to POL has been initiated on Ethereum mainnet, after months of development, community consultation and a successful testnet launch.”

POL token will energy all Polygon networks — the principle Polygon blockchain, the Polygon zkEVM community, and varied supernets.

POL improve additionally prepares for the following milestones within the Polygon 2.0 roadmap. It consists of the launch of a brand new staking layer to energy Polygon L2, improve Polygon PoS to zkRollup, and implement a sophisticated, ZK-powered interoperability and shared liquidity protocol.

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Polygon Plan To Switch From MATIC To POL

In September, Polygon initiated the migration of MATIC to POL token with the discharge of three Polygon Improvement Proposals (PIPs). PIP-18 had Phase 0 plans to construct a community of interconnected zero knowledge-powered L2 chains that scale Ethereum to the scale of the Internet.

It will make important adjustments together with upgrades from MATIC to POL token because the native token for Polygon PoS and staking token for Polygon PoS.

MATIC worth jumped 21% in every week, with the worth at the moment buying and selling at $0.62. The worth is down 4% previously 24 hours.

Also Read: Binance Set Up HKVAEX To Gain Crypto License In Hong Kong

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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a expertise fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the enormous potential of those revolutionary future applied sciences. He is at the moment masking all the newest updates and developments within the crypto trade.

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