Polygon (Matic) Gets Upgraded to POL

bitcoinflood in #hive-167922 • 14 days ago

Polygon has gotten a lot of news as one of the biggest layer two tokens to help the crushing blow of Ethereum fees. It caught on in a large way when Ethereum transactions cost $50+ and Polygon was under $1 per transaction. Since then the blockchain has been able to grow and adapt but it's started to struggle.

Polygon was once called MATIC and so it was always referenced for the last few years at Polygon (Matic) but that's not all about to change as Polygon is now upgraded to POL a hyperproductive token which allows others to engage more effectively in the network's growth.

This key technical upgrade is to enhance the utility of Polygon and bring it into Polygon 2.0 vision. It's a simple 1:1 basis and will become the networks native gas and staking token as of today September 4th 2024.

This upgrade introduces a 2% emission it's going to allow the community to participate technically.

Now the issue with the token like most altcoins these days is it's only really gone down as interest really hasn't blossomed around it. However personally I wouldn't count it out. A lot of the tokens that make mega billions during the last bull run I feel are sitting on a lot of capital themselves to build, develop and grow and once these news things start to break which are most likely still being worked on these tokens have a good chance in my opinion of bouncing back bigger and better as they are constantly developing the network.

MATIC to POL Migration

So what exactly do you need to know about the matic to pol token migration? Are your funds safe and are there actions you need to take?

There's no hard deadline at the moment yet to convert your tokens and honestly for myself from past experiences I'll be waiting a bit for them to work out any bugs or kinks in the system before I convert mine.

The conversion will take place in terms of s swap that happens which can be done on their website Polygon Portal

This token will be added into the AggLayer. It's a critical step that just took place for the next evolution of the Polygon network.

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#polygon #crypto #ocd #gems #bbh #neoxian #pob #pimp #pgm

14 days ago in #hive-167922 by bitcoinflood

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bozz 14 days ago

Interesting. I was under the impression there wasn't anything I needed to do on my end, but I guess I just need to wait and see if I am holding some on one of those platforms that doesn't migrate automatically.

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gwajnberg 14 days ago

A friend of mine commented in private but your blog was the first that i read about the topic! Thanks :)

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shiftrox 9 days ago

Interessante essa alteração, mas agora me veio uma dúvida, por enquanto não podemos mais transferir o token MATIC (agora POL) para a hive? Lembro que tem o swap.matic o que acontecerá agora? Existe algum processo que podemos fazer?

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thebighigg 14 days ago

I'll have to migrate mine over, the time has finally come! I've been holding MATIC for years and it's much cheaper than using ETH. Gas fees are ridiculous with Etherium which is why I own some but never use it!

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