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Polygon developers have officially announced the transition of the MATIC token to POL, marking a significant milestone in the development of the network.
Polygon Developers Switch MATIC Token to POL Amid Major Network Upgrade
Following a year of extensive community discussions, the transition is now live with POL taking over as the new ticker symbol for the native gas and staking token on the Polygon PoS chain.
The move to POL is part of Polygon’s broader strategy to transform into a ZK (zero-knowledge) chain and integrate with AggLayer, a solution designed to consolidate liquidity and state across multiple chains.
Despite the new name, POL will retain MATIC's existing tokenomics, including a total supply of 10 billion tokens.
Exchanges are expected to list the upgraded POL token soon, with the initial exchange ratio set at 1:1.
Over the next decade, a gradual 2% increase in emissions will support network growth, provide ongoing rewards for validators, and incentivize new participants. “This emissions model makes it attractive for new validators to join and participate,” Polygon said.
MATIC holders on the Polygon PoS chain do not need to take any action, as the upgrade to POL will occur automatically.
However, those holding MATIC on Ethereum, Polygon zkEVM, or centralized exchanges must manually move their tokens to POL via a transition contract.
The upgraded POL token is expected to have expanded functions, including roles in block production, creating zero-knowledge proofs, and participation in Data Availability Committees (DACs), positioning it as a critical asset in Polygon’s future.
*This is not investment advice.