In early September, Polygon, the innovative Ethereum scaling network, will make a significant transition by upgrading its MATIC token to POL.
The developers at Polygon Labs have announced that the upgrade from their native token, MATIC, to their new hyperproductive token, POL, will take place on September 4.
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The transition from MATIC to POL It's not just a name change., but a strategic evolution that has profound implications for the development and sustainability of the Polygon ecosystem. With this transition, Polygon seeks to position itself as a leader in the aggregated blockchain space, ensuring its competitiveness and ability to adapt in a constantly evolving environment.
Key transition for MATIC token approaching
The upgrade from MATIC to POL represents a fundamental change in the way Polygon operates and is funded. As explained by the project developers, POL not only acts as a new token, but also becomes the “self-sufficient fuel” that will fuel the growth and innovation of the network.
Polygon Labs he highlighted that POL's emissions model is designed to foster a strong community and sustainable ecosystem, ensuring that resources are always available for research, development and innovation.
One of the most notable features of the new Polygon token is its issuance model, which establishes an annual rate of 2%. This rate will be divided into two parts, where 1% will be allocated to rewards for validators, which will help ensure the security and scalability of the network, while the other 1% will be allocated to the Community Treasury to finance the development of the protocol. .
With this approach, Polygon not only ensures that the network remains secure, but also promotes innovation and continued growth of its project.
Validator Rewards: Ensuring Network Stability
As mentioned, the security and stability of the Polygon network will be guaranteed with the new broadcast model. The developers of the L2 blockchain have placed a strong emphasis on incentivizing validators, one of the key and most fundamental pieces to ensure the stability of any blockchain ecosystem.
Therefore, the new POL model will assign a 1% of token issuances to rewards for validators. This will help create an environment where validators are motivated to join and stay on the network and work with integrity, allowing the ecosystem to scale effectively as the number of transactions and chains increases.
Community Treasury: Driving growth and innovation
In addition to validator rewards, the new POL issuance model also highlights the Community Treasury as another of its essential components. The bottom of the Polygon Community Treasury will also receive 1% of POL emissions, thus creating a mechanism that can finance innovative projects and encourage growth within the ecosystem.
The Polygon Network Community Treasury not only funds the development of the protocol, but also supports research initiatives and grant programs that help developers and creators build on the platform. Therefore, the allocation to this fund will help attract new developers and projects to the Polygon ecosystem, while strengthening its community.
Polygon's long-term vision
As mentioned at the beginning, the transition from MATIC to POL is not just a name change or a technical improvement. Its developers have highlighted this transition as a statement of intent about Polygon's future as an aggregated blockchain network.
The blockchain has adopted a focus on sustainability and adaptability, where POL's emissions model could act as a catalyst for continued growth. Additionally, by providing a sustainable economic framework, Polygon is ready to support a wide variety of applications and use cases, which will strengthen its position to encourage widespread adoption of blockchain technology.
In short, the transition from MATIC to POL is a crucial step in the chain's evolution towards a more robust and self-sufficient future, which could mark a new wave of innovation in the cryptocurrency industry.
