#polygon $POL Polygon (formerly MATIC) transitioned to the Polygon Ecosystem Token (POL) on September 4, 2024, as part of the Polygon 2.0 upgrade. This shift aims to enhance scalability and interoperability within the Polygon network.
🔄 Migration from MATIC to POL
The migration was executed across various platforms:
Polygon PoS Network: MATIC tokens were automatically converted to POL.
Ethereum and zkEVM Networks: Users were required to manually migrate MATIC to POL using Polygon's official migration contract.
The upgrade was implemented on the Ethereum mainnet on October 25, 2023, with full functionality on September 4, 2024.
💡 Key Features of POL
Emission Model: POL introduces a 2% annual emission rate, split equally between validator rewards and the community treasury.
Utility: POL serves multiple purposes, including:
Paying transaction fees
Staking for network security
Governance participation
Incentivizing validators for activities like zk-proof generation and data availability committees.
Supply Dynamics: Unlike MATIC's fixed supply of 10 billion, POL has an infinite supply with deflationary mechanisms, such as token burns during high network activity.
📈 Current Market Overview
Price: Approximately $0.193
Market Cap: Around $2.37 billion
Circulating Supply: Approximately 10.49 billion POL tokens
Emission Rate: 2% annually, with 1% allocated to validators and 1% to the community treasury.
🔮 Future Outlook
POL is central to Polygon's vision of a unified, scalable blockchain ecosystem. Its role in the Aggregation Layer (AggLayer) facilitates seamless interoperability across various chains, positioning POL as a cornerstone in the evolving blockchain landscape.
For more detailed information, you can visit the official Polygon website: polygon.technology/pol-token.Polygon ($POL): Future Potential and Use Cases
Polygon’s transition from MATIC to POL represents a major step toward a more scalable and interoperable blockchain ecosystem. Unlike MATIC, POL has a dynamic supply model with #Polygon and $POL