Hassan Maishera
The Polygon team informed its community members via Twitter on Thursday that it has submitted a new proposal that seeks to replace MATIC, its native coin, with POL, an upgraded version of the coin.
Polygon revealed that POL is a proposed technical upgrade of MATIC. If the community reaches a consensus to adopt it, MATIC holders will have their tokens upgraded to POL in a 1:1 ratio. There will never be two native tokens.
Furthermore, Polygon stated that POL is the 3rd generation of native assets - a hyperproductive token. Holders can become validators and receive rewards but with two major improvements:
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Validators can validate multiple chains
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Chain can offer multiple roles (and corresponding rewards) to validators.
POL introduces multiple major benefits for the Polygon ecosystem, including ecosystem security, infinite scalability, no friction, ecosystem support, and community ownership.
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC is up by 18% in the last 24 hours and is currently trading at $0.8429.
