Polygon Labs will migrate MATIC tokens to POL on September 4, 2024, making POL the main asset of the Polygon network. The new POL token retains MATIC’s tokenomics, distribution, and total supply.
This migration is part of Polygon 2.0, a broader strategy unveiled in July 2023 to modernize the network. POL aims to enhance liquidity and functionality, supported by updates to DeFi protocols, applications, and infrastructure. Unlike similar updates, POL will be available in both Proof-of-Stake and zkEVM formats.
Testing began on July 17 to ensure a smooth transition. Users with MATIC on the Polygon network will experience automatic conversion, while those on other networks need to follow specific guidelines.
This migration marks a pivotal development for the Polygon network, promising to bolster its efficiency and resilience in the long term.
