Tokenization
Polygon Network Upgrades to POL Tokens
Thursday. July 18 at 9:00 PM
1 min. readPolygon's proof-of-stake network is set to transition from MATIC to POL tokens in a scheduled upgrade on Sept. 4. The upgrade, part of the Polygon 2.0 roadmap, aims to enhance the utility of the native token and support the network of aggregated blockchains. The community anticipates POL to play a crucial role in the upcoming Polygon staking hub, offering functionalities like block generation and zero-knowledge proof generation. The recent testnet upgrade allows users to prepare for the mainnet migration, where MATIC holders on Polygon PoS will be automatically switched to POL. However, holders on other platforms will need to manually upgrade. Additionally, Polygon Labs is collaborating with the TON Application Chain to introduce EVM functionality to the TON ecosystem. This move signifies Polygon's continuous efforts to expand its ecosystem and enhance interoperability within the crypto space.