MATIC is undergoing an upgrade and "POL" will come to exist.
I appreciate this upgrade because it aims to enhance the token's versatility and usefulness across different chains within the Polygon ecosystem. The community has given its prior approval to this upgrade. As a result of this enhancement, the following benefits will be realized:
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Utility Across Multiple Chains: The POL token will possess utility across various protocols within the Polygon network, encompassing Polygon PoS (Proof of Stake), zkEVM (Zero-Knowledge Ethereum Virtual Machine), and Supernets.
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Scalability and Security: A key advantage of this upgrade is its capacity to involve a larger number of participants (referred to as actors) in the network's protocols. This scalability is achieved without compromising security. Essentially, the upgrade empowers the network to accommodate more Polygon chains while maintaining robust security measures.
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Staking Incentives: The POL token will introduce staking opportunities for validators—individuals or entities that contribute to network security by validating transactions and upholding their integrity. These validators will have access to incentives through three channels: protocol rewards, transaction fees, and additional rewards.
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Expanded Roles for Validators: Validators participating in the upgraded network can undertake multiple responsibilities within a single chain. This encompasses tasks such as generating zero-knowledge proofs (a cryptographic technique ensuring data privacy) and engaging in data availability committees. This broader role enables validators to contribute diversely, going beyond mere transaction validation.
Note: when it goes live, and $MATIC is switching to $POL, a 1:1 swap basis over the next 4 years will take place. Show Less
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