Polygon changing MATIC with POL token

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Crypto.information – Polygon has introduced plans to exchange native MATIC tokens with POL as a part of the Polygon 2.0 improve.

POL will function a automobile for coordinating and rising the Polygon 2.0 ecosystem, and would be the main driver of the venture’s imaginative and prescient of turning into the worth layer of the Web.

Polygon Proclaims POL

Just lately introduced a phased rollout of a community improve referred to as Polygon 2.0, the Sandeep Nailwal-led Layer 2 scaling community will substitute native MATIC tokens with POL as a part of the transition course of.

In keeping with a white paper launched by the staff, POL shall be on the coronary heart of Polygon 2.0 and can function a driving pressure for progress and coordination.

In keeping with the staff, the creation of POL was impressed by a imaginative and prescient to develop into the “worth layer of the Web”, the place worth could be created and exchanged seamlessly around the globe in the identical manner info is exchanged immediately.

POL offers a number of utilities

Because the driving pressure behind Polygon 2.0’s coordination and progress, POL will present a number of utilities, together with validator staking. Members of the Polygon neighborhood should stake her POL to affix the validator pool.

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Like different Proof of Stake (PoS) based mostly cryptocurrencies, validator staking will increase community safety and protects the community from Sybil assaults.

POL may even present holders with governance rights within the Polygon 2.0 ecosystem, offering advantages akin to enabling holders to take part in key decision-making processes of the venture. Furthermore, the preliminary provide of POL is 10 billion, much like MATIC.

Nevertheless, the staff revealed that 2% of the whole POL provide is put aside annually for validator rewards (1%) and neighborhood funds (1%). MATIC holders can improve their tokens to her POL through the official hyperlink offered by the Polygon staff.

This text initially appeared on Crypto.information

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