Polygon 2.0 To See MATIC Replacement With POL, Proposals Outlined
Portfolio Pulse from Khyathi Dalal
Polygon (CRYPTO: MATIC) has proposed three changes for the transition to Polygon 2.0, which includes the creation of a new POL token to replace the current MATIC as the gas and staking tone of the ecosystem. The conversion ratio is set at 1:1 with the new coin maintaining the same tokenomics of an initial supply of 10 billion and an annual issuance of 2% as staking rewards and community treasury. The implementation is set to commence in the fourth quarter of 2023.
September 15, 2023 | 3:57 pm
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NEUTRAL IMPACT
The development of Polygon 2.0, an inter-connected second-layer network within the Ethereum block space, could potentially impact the value of Ethereum.
While the development of Polygon 2.0 is within the Ethereum block space, it's unclear how this will directly impact the value of Ethereum in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The proposed changes for the transition to Polygon 2.0, including the replacement of MATIC with POL, could impact the value of MATIC in the short term.
The proposed replacement of MATIC with POL as part of the transition to Polygon 2.0 could lead to uncertainty among investors and potentially impact the value of MATIC in the short term.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100