polygon Extra particulars had been lately supplied relating to the proposed migration of MATIC tokens to the brand new POL token. That is a part of Polygon’s deliberate building”aggregate blockchain” as its modern strategy expand these networks.
All about MATIC migration to POL
The polygon is displayed in blog post suppose Mainnet upgrade The transfer from MATIC to POL is predicted to happen on September 4th. On the identical time, on the discretion of the neighborhood, the utility of POL could also be prolonged to Polygon’s aggregation layer (AggLayer).
The community revealed that the testnet migration went reside on July 17, indicating that they’re prepared for this historic improve. As a part of the improve, MATIC holders on Polygon PoS don’t must take any motion, as POL will robotically improve to the community’s utility token with none motion from the person.
Nevertheless, MATIC holders on Ethereum, Polygon zkEVM or a centralized change (CEX) might want to take motion in the event that they want to improve their MATIC tokens to POL. MATIC holders on Ethereum will obtain Immigration contractwhich has been deployed to allow holders to improve from MATIC to POL and not using a license.
MATIC holders who should not have the technical information to make use of these migration contracts can use third-party decentralized change (DEX) aggregators. These DEXs have built-in migration contracts so holders can simply change MATIC tokens for POL tokens.
MATIC holders polygonzkEVM These concerned with upgrading can bridge their MATIC tokens from zkEVM to Ethereum after which use the migration contract to replace their MATIC tokens to POL. Alternatively, they’ll use zkEVM DEX or a DEX aggregator to change MATIC tokens for POL.
Polygon identified MATIC holders on CEX Chances are you’ll need to verify the steerage supplied by your particular change on learn how to migrate from MATIC to POL. Nevertheless, they added that almost all main exchanges will probably help customers with this improve robotically.
Selling blockchain interoperability and scaling Ethereum
this POL upgrade Kinds a part of Polygon’s formidable plans to advertise blockchain interoperability and additional scale Ethereum network. In the long run, POL is predicted to develop into the native token of Polygon’s AggLayer, which is solely a community of layer 2 chains powered by zero-knowledge (ZK).
These chains may have entry to shared liquidity, customers, and standing Across all networks on the mixture layer. That is the place POL is available in, as customers on any of those chains on AggLayer will not must bridge tokens and ship wrapped variations as they’ll simply ship native POL tokens throughout these chains.
from a Ethereum From perspective, a series on an AggLayer is handled as a single Rollup. Subsequently, Ethereum holders can simply transfer their ETH tokens throughout these chains whereas maximizing the worth of every chain.
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