Bye MATIC, Hi POL: What’s Next for Polygon?

Polygon Replaces MATIC with POL on September 4

Starting September 4, Polygon will phase out MATIC and introduce POL as its primary gas currency and staking token. This change marks a significant shift in Polygon’s tokenomics and staking design, laying the groundwork for future growth.

According to an official statement from the Polygon team, POL will be integral to Polygon’s next growth phases. The community will have the opportunity to expand POL’s utility, potentially integrating it into AggLayer, an upcoming blockchain aggregation tool developed by Polygon.

Introduction of POL and Its Role

POL is presented as a highly productive token that will offer valuable services across the Polygon network, including within AggLayer. This upgrade is a key component of Polygon’s multi-year technical roadmap, Polygon 2.0.

• POL: New gas and staking currency.
• AggLayer: Upcoming blockchain aggregation tool.
• Polygon 2.0: Multi-year technical roadmap.

Migration Process for MATIC to POL

The migration from MATIC to POL will involve different procedures depending on the holder’s platform:

• Polygon PoS Holders: No action required; upgrade will be automatic.
• MATIC Stakers and Delegators on Ethereum (ETH): No action required; upgrade will be automatic.
• Holders on Ethereum, Polygon zkEVM, and CEXes: May need to migrate through migration tools or smart contract calls.

Centralized exchanges (CEXes) will initiate the migration procedures. Major Tier 1 CEXes, such as Binance and OKX, have already expressed support for the token upgrade.