Polygon is planning to introduce a new token pole as an upgrade of the Matic token

Polygon is planning to introduce a new token pole as an upgrade of the Matic token

Polygon, a blockchain network, plans to introduce a new token called POL. This token is said to act as an upgrade of the previous Matic token, which is out of date in the course of the change. The polygon team wants to usher in a new token generation with the introduction of pole.

The pole token enables owners to become validators within the polygon network. This allows you to check and validate any number of chains and networks. Polygon apparently produces new chains and networks every day, which makes the role of validators particularly important.

The exact details of the Smart Contracts of the Pol token are announced in a polygon improvement proposal (PIP) that can still be published. According to polygon, the upgrade from Matic to Pol is a simple technical action. The token owners only have to send their Matic tokens to the upgrade smart contract, which automatically returns the corresponding amount of pole. This upgrade should be given enough time to the token owners to exchange their tokens, probably four years or more. If the community agrees to the proposal, migration could start in a few months.

polygon is becoming a network of networks that should contribute to scaling Ethereum. The concept, which was presented as polygon 2.0 last month, includes a variety of polygon-based chains, bridges and the integration of data protection improving zero-knowledge (ZK) evidence. The vision of polygon 2.0 is to create a layer of value on the Internet that enables everyone to create, exchange and program values.

The introduction of the poly token and the further development of the polygon network could mean an important step towards scaling and improving blockchain technology. It remains to be seen how the community reacts to these new developments and whether they will lead to broad acceptance.