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Polygon Labs, the event group behind Ethereum scaling answer Polygon, has introduced its new native token, POL. By way of a Twitter announcement, Polygon Labs proposed an improve plan to switch the prevailing token, MATIC, with POL — thereby establishing POL because the unique token for all networks inside the Polygon ecosystem.
These networks embrace the Polygon mainnet, Polygon zkEVM community, and numerous Supernet chains (devoted software chains operating on the Polygon mainnet). If the proposal is accepted, POL will function a multi-purpose token, enabling community validators to assist the operation of a number of chains utilizing a single token.
Upgrading from MATIC to POL would demand an upfront technical process: MATIC must be despatched to an upgraded sensible contract, mechanically retrieving an equal quantity in POL. If the neighborhood helps this initiative, token holders could have adequate time to improve, resembling 4 years or longer.
Every neighborhood of the Polygon chains will in the end determine which token to make use of as gasoline charges. Some might go for POL, and token holders can make the most of POL to vote on governance proposals for DApps constructed on Polygon, with all rewards and incentives distributed in POL.
In response to TradingView information, after the information was launched, the worth of the MATIC token rose from roughly $0.73 to $0.77 inside an hour, representing a progress of over 5%.
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