Market News

Polygon Launches POL Token Contract on Ethereum as a Potential Replacement for MATIC

Contract, Ethereum, Launches, MATIC, POL, Polygon, Potential, Replacement, Token

“Polygon’s game-changing move to launch the POL token contract on Ethereum signals an ambitious vision to revolutionize the blockchain ecosystem, potentially paving the way for MATIC’s gradual replacement.”



Polygon Labs has recently launched the Ethereum contract for its new token, POL, which is intended to replace the current token, MATIC, in the ecosystem. However, users are not required to exchange their MATIC for POL at the moment. The team stated that POL is a next-generation token that can power a vast ecosystem of zero knowledge-based Layer 2 chains. The token’s launch will enable the implementation of other aspects of the Polygon 2.0 roadmap, including a new staking layer, upgrading the Proof of Stake network to zkEVM layer-2, and creating a shared liquidity protocol for all Polygon networks.

It is important to note that POL is not currently being used for any systems in the Polygon network. Staking and gas fees are still being performed using MATIC. Users, validators, and app developers are not required to exchange their MATIC for POL at this time.

Polygon Labs first announced the development of the Polygon 2.0 layer-2 ecosystem on June 29. The team proposed the use of a new token, POL, on September 14. However, the token was still in the proposal stage and had not been deployed to Ethereum.

Polygon’s layer-2 ecosystem will utilize zero-knowledge proofs to validate transactions between networks. It will face competition from the Optimism ecosystem, which uses optimistic rollup technology to secure messages between networks.

Overall, the launch of the POL token marks an important milestone in the implementation of the Polygon 2.0 roadmap and paves the way for further advancements in the Polygon ecosystem.

  • Florida Authorities Pursue Armed and Dangerous Carjacking Suspects Tied to Double Homicide

    Florida Authorities Pursue Armed and Dangerous Carjacking Suspects Tied to Double Homicide

    Authorities in Florida are on high alert as two carjacking suspects linked to two recent killings are currently on the run. The suspects, who are considered armed and dangerous, have evaded capture so far, leaving residents and law enforcement on edge. Stay tuned for updates on this developing story. Investigators in Florida have linked the…

  • Is DFYN (Crypto) Good for Investment?

    Is DFYN (Crypto) Good for Investment?

    Is DFYN (Crypto) a good investment opportunity? With the rise of digital currencies and decentralized finance platforms, many investors are looking for new ways to diversify their portfolios and capitalize on the growing cryptocurrency Market. DFYN, a decentralized exchange built on the Polygon network, offers users low fees, faster transaction speeds, and access to a…

  • The Best Damn Chili Recipe: A Flavorful and Hearty Dish for Any Occasion

    The Best Damn Chili Recipe: A Flavorful and Hearty Dish for Any Occasion

    Welcome to the ultimate chili experience, where flavor and heat combine to create the best damn chili you’ve ever tasted. Made with hand-selected ingredients and simmered to perfection, this chili will ignite your taste buds and leave you craving more. Say goodbye to bland and boring chili – this is the real deal. Get ready…

Leave a Comment

Marriott’s European Expansion: 100 New Hotels, 12,000 Rooms by 2026 Snap Analyst Ratings: 12 Experts’ Viewpoints, Price Targets, and Performance Evaluations Dubai Floods and the Postponement of Token2049 Conference What Happens If You File Taxes After April 15? Iran-Israel Conflict Escalates, Threatens to Surge Oil Prices Above $100
Marriott’s European Expansion: 100 New Hotels, 12,000 Rooms by 2026 Snap Analyst Ratings: 12 Experts’ Viewpoints, Price Targets, and Performance Evaluations Dubai Floods and the Postponement of Token2049 Conference What Happens If You File Taxes After April 15? Iran-Israel Conflict Escalates, Threatens to Surge Oil Prices Above $100
Marriott’s European Expansion: 100 New Hotels, 12,000 Rooms by 2026 Snap Analyst Ratings: 12 Experts’ Viewpoints, Price Targets, and Performance Evaluations Dubai Floods and the Postponement of Token2049 Conference What Happens If You File Taxes After April 15? Iran-Israel Conflict Escalates, Threatens to Surge Oil Prices Above $100