Polygon 2.0 Witnesses Milestone: POL Contracts To Replace MATIC On Ethereum Mainnet
Portfolio Pulse from Khyathi Dalal
Polygon Labs plans to replace its MATIC token with a new POL token on the Ethereum mainnet. The new token is part of the upcoming Polygon 2.0 upgrade and will serve as the main cryptocurrency for the Polygon 2.0 ecosystem. The replacement will not be immediate and requires governance approval. MATIC holders will have four years to migrate their holdings to the new token. The trading volume of MATIC has dropped by 33.9% in the past 24 hours, and its price is down around 1%.
October 25, 2023 | 3:21 pm
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The announcement of the replacement of MATIC with POL as part of the Polygon 2.0 upgrade could lead to uncertainty among investors, potentially impacting the price and trading volume of MATIC.
The news of the replacement of MATIC with POL could create uncertainty among investors about the future of MATIC, leading to a decrease in its trading volume and price. The fact that MATIC holders will have four years to migrate their holdings to the new token could also impact the short-term trading behavior of MATIC.
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