Polygon lately supplied extra main points at the proposed migration of MATIC tokens to its new POL tokens. This paperwork a part of Polygon’s plan to construct “aggregated blockchains” as its leading edge option to scaling those networks.
The entirety To Know About MATIC’s Migration To POL
Polygon published in a weblog put up that the mainnet improve from MATIC to POL is predicted to happen on September 4. Within the preliminary section of the improve, the POL token will exchange MATIC because the gasoline and staking token of the Polygon PoS (proof-of-stake) community. In the meantime, relying at the group’s determination, POL’s software may just prolong to Polygon’s aggregation layer (AggLayer).
The community published {that a} testnet migration went survive July seventeenth, indicating their preparedness to continue with this ancient improve. As a part of the improve, MATIC holders on Polygon PoS gained’t required to do anything else, as POL will robotically be upgraded to transform the community’s software token with out customers having to do anything else.
Then again, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges (CEXs) will wish to take motion in the event that they need to improve their MATIC tokens to POL. MATIC holders on Ethereum might be given a migration contract, which is already deployed to permit holders to improve from MATIC to POL permissionless.
MATIC holders who don’t have the technical information to make use of those migration contracts can use a third-party decentralized alternate (DEX) aggregator. Those DEXs already built-in the migration contracts, so holders can simply switch their MATIC tokens for POL tokens.
MATIC holders on Polygon zkEVM within the improve would possibly bridge their MATIC tokens from zkEVM to Ethereum after which use the migration contracts to replace their MATIC tokens to POL. On the other hand, they may be able to use a zkEVM DEX or DEX aggregator to switch their MATIC tokens to POL.
Polygon famous that MATIC holders on CEXs may wish to evaluation the steerage supplied through their explicit alternate to know the way emigrate from MATIC to POL. Then again, they added that the majority primary exchanges will most probably robotically lend a hand customers with this improve.
Selling Blockchain Interoperability And Scaling Ethereum
The POL improve paperwork a part of Polygon’s large plan to advertise blockchain interoperability and extra scale the Ethereum community. In the end, POL is predicted to transform the local token of Polygon’s AggLayer, which is solely a community of zero-knowledge (ZK) powered layer-2 chains.
Those chains could have get right of entry to to shared liquidity, customers, and state throughout all networks at the AggLayer. That is the place POL is available in, as customers on any of those chains at the AggLayer will not wish to bridge tokens and ship a wrapped model since they may be able to simply ship the local POL token throughout those chains.
From an Ethereum viewpoint, chains at the AggLayer are taken as a unmarried rollup. As such, Ethereum holders can simply transfer their ETH tokens throughout those chains whilst maximizing probably the most of every chain.
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