The upgrade is part of Polygon's 2.0 roadmap to enhance its zero-knowledge-based layer 2 chains ecosystem, aiming to expand the utility and functionality of its native token.
The Polygon proof-of-stake (PoS) network will replace its original MATIC token with POL (POL) tokens following an upgrade slated for Sept. 4.
Polygon Labs launched the Ethereum contract for the POL token on Oct. 25 as part of the Polygon 2.0 roadmap, primarily intended to “power a vast ecosystem of zero knowledge-based layer 2 chains.”
The POL upgrade aims to expand the utility of Polygon’s native token and power its growing network of aggregated blockchains, a.k.a. AggLayer.
