$POL
The $POL token, which stands for Polygon Ecosystem Token, is the upgraded native cryptocurrency of the Polygon network, transitioning from the original MATIC token.
Its primary role is to act as a "hyperproductive token" designed to secure and power the entire Polygon ecosystem, especially under the vision of Polygon 2.0.
Key utilities of the POL token include:
Network Fees (Gas): It is used to pay for transaction fees on Polygon chains, most notably the Polygon PoS chain.
Staking and Security: Validators stake POL to secure the network via the Proof-of-Stake mechanism. A key feature of POL is that stakers can use their staked tokens to validate and secure multiple Polygon chains simultaneously, earning rewards from each one.
Governance: POL holders participate in decentralized governance by voting on Polygon Improvement Proposals (PIPs) to guide the future development and evolution of the protocol.
Ecosystem Fuel: A portion of the token's continuous emissions is dedicated to a community treasury to fund ongoing development and growth initiatives within the Polygon ecosystem.