Ethereum Layer-2 Polygon Labs To Replace MATIC With POL Token In September Upgrade
Portfolio Pulse from Murtuza Merchant
Polygon Labs is set to replace its MATIC token with the new POL token as part of the Polygon 2.0 upgrade on September 4. This transition will make POL the primary token across all Polygon networks, starting with the Polygon PoS chain. MATIC holders on the Polygon PoS chain will see an automatic conversion to POL, while those on other platforms will need to follow specific procedures.
July 18, 2024 | 3:50 pm
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POSITIVE IMPACT
Polygon Labs will replace MATIC with POL token on September 4, making POL the primary token across all Polygon networks. MATIC holders on the Polygon PoS chain will see an automatic conversion to POL.
The transition from MATIC to POL is a significant upgrade for the Polygon network, potentially increasing the utility and value of the new POL token. The automatic conversion for MATIC holders on the Polygon PoS chain ensures a smooth transition, likely boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Polygon's upgrade to replace MATIC with POL may impact Ethereum as users holding MATIC on the Ethereum blockchain will need to follow specific procedures for the transition.
While the primary focus is on Polygon's transition, Ethereum users holding MATIC will need to follow specific procedures, which could cause minor disruptions or adjustments in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50