Polygon’s POL Token Contracts Goes Live On Ethereum

26/10/2023

Polygon Labs has reached a pivotal stage in its Polygon 2.0 roadmap by successfully deploying the POL token upgrade on the Ethereum mainnet.  The new POL token is set to replace MATIC as the primary token within Polygon's multifaceted ecosystem, spanning the main Polygon blockchain, the Polygon zkEVM network, and various supernets.  This upgrade not only represents a substantial technical achievement but also aligns with Polygon's vision to contribute to the development of the "Value Layer of the Internet."  It signifies a crucial step toward improving scalability, interoperability, and shared liquidity within the broader blockchain and DeFi landscape.

The transition from MATIC to POL tokens started in September with the introduction of Polygon Improvement Proposals (PIPs).  The upgrade holds the potential to propel Polygon's position in the evolving Layer 2 scaling solutions space.  This change generated market enthusiasm, with a notable 21% increase in the price of MATIC within a week, further underscoring the significance of Polygon's developments.

Resource: https://coingape.com/polygon-pol-token-contracts-goes-live-on-ethereum/