Polygon, a leading Ethereum scaling platform, is rebranding its native token, MATIC, as POL, as part of its broader Polygon 2.0 upgrade. This shift reflects Polygon’s transformation from a simple Layer 2 Ethereum solution into a more complex and diverse ecosystem of blockchain technologies. MATIC was delisted from the BTSE platform last week, and will be relisted as POL tomorrow, September 13.
Key Dates
- Deposits enabled: 6:00PM (Singapore Time) on September 13, 2024
- Trading enabled: 6:00PM (Singapore Time) on September 13, 2024
- Withdrawals enabled: 6:00PM (Singapore Time) on September 13, 2024
Why MATIC is Transitioning to POL
When Polygon first launched as Matic Network in 2017, its primary goal was to scale Ethereum using a Proof-of-Stake (PoS) sidechain. Over time, Polygon has expanded its offerings to include zero-knowledge (zk) rollups, plasma chains, and enterprise blockchain solutions. As the platform evolved, so did the need for a new token that could support its expanded vision.
Enter POL—a “hyperproductive token” that will enhance the scalability, security, and interoperability of the entire Polygon ecosystem. POL will replace MATIC as the native token across all of Polygon’s products and services. To ease this transition, MATIC holders will have four years to exchange their tokens for POL at a 1:1 ratio. MATIC holders can exchange tokens here.
What Does This Mean for Users?
The rebrand from MATIC to POL is more than just a name change—it signifies Polygon’s growing role as a comprehensive blockchain platform, offering diverse solutions for developers, enterprises, and users. POL will serve as the foundation for Polygon’s next generation of technology and tools, enabling more robust scaling and security across the ecosystem.
For more information on BTSE’s MATIC to POL migration process, visit this guide.
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