header banner

Migrations of MATIC To POL Tokens are launched by Polygon

Table of Contents

    Polygon enabled MATIC holders to migrate their assets to its new POL token on Oct. 26.

    Polygon announced the news via tweet, noting that several prominent DeFi dApps have integrated its migrator contract into their protocols, including CoWSwap, ParaSwap, and Kyber Network.

    “The POL Upgrade was initiated today on Ethereum,” Polygon said. “You can find the POL contract at pol-token.eth.”

    Polygon’s MATIC token is down 5% in 24 hours despite gaining 19% over the past seven days, according to CoinGecko.

    Polygon launched POL on Oct. 25 by deploying its contracts on Ethereum, marking a significant milestone in the project’s “Polygon 2.0” overhaul.

    Polygon said POL will underpin its coming revamped staking layer. Validators will be able to restake their POL to secure multiple Polygon chains at once. Restakers can also perform different validation services, including transaction sequencing and proof generation.

    Polygon’s ecosystem currently spans ZkEVM, a Layer 2 rollup, PoS Chain, its long-standing Ethereum sidechain, and Supernets, its Layer 3 architecture. Polygon is also developing Miden, a ZK-STARK-based L2.

    To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io


    Article information

    Author: Linda Bowen

    Last Updated: 1700183041

    Views: 1155

    Rating: 4.2 / 5 (43 voted)

    Reviews: 84% of readers found this page helpful

    Author information

    Name: Linda Bowen

    Birthday: 1915-04-28

    Address: 18330 John Dale, Garychester, WV 54598

    Phone: +3939974317491840

    Job: Physical Therapist

    Hobby: Photography, Coin Collecting, Painting, Snowboarding, Sculpting, Writing, Board Games

    Introduction: My name is Linda Bowen, I am a cherished, dear, important, venturesome, transparent, brilliant, unguarded person who loves writing and wants to share my knowledge and understanding with you.