Understanding the POL Upgrade and Its Impact

The #MATIC to #POL upgrade is set for September 4th, 2024, marking a major evolution for the #Polygon network. POL will replace MATIC as the native gas and staking token on Polygon PoS, bringing expanded utility and security.

What is the POL Upgrade?

POL is a hyperproductive token with a broader role than MATIC. Initially, it will serve as the gas and staking token on the Polygon PoS network. POL will eventually support additional functions, including in the new AggLayer, enhancing the network's capabilities.

How Will the Migration Process Work?

No action is needed as it will be an Automatic Upgrade to POL come September 4th.

Ethereum & Polygon zkEVM: Manual upgrade via a migration contract or DEXs. There's no immediate deadline, providing flexibility.

Centralized Exchanges: Follow specific guidance; many exchanges will handle the upgrade automatically.

What Then Happens to MATIC Holders?

MATIC holders on Polygon PoS will automatically transition to POL. Those holding MATIC on Ethereum or zkEVM will need to migrate manually using a migration contract.

Is This Move Beneficial to the Polygon Ecosystem?

Yes, the POL upgrade enhances network security and utility. As a governance token, POL allows greater community participation and supports broader roles in the network's future. This upgrade aligns with Polygon's vision of becoming a more robust, aggregated blockchain network.