• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Key Points of the Migration from MATIC to POL and the Future of Polygon

user avatar

by A1

3 months ago


  1. MATIC becomes POL
  2. Understanding the migration
  3. Smooth transition or challenges ahead?
  4. Community reaction and price action
  5. What do experts think?
  6. The road ahead

  7. The migration from MATIC to the new POL token is garnering interest and questions from Polygon network users. This article delves into the key aspects of the transition, potential risks, and expert forecasts.

    MATIC becomes POL

    On September 4, Polygon, the Ethereum scaling solution, officially announced a transition from the MATIC token to a new native token called POL. POL will replace MATIC as the primary gas and staking token on Polygon's main PoS chain and will play a crucial role in the network's 2.0 roadmap.

    Understanding the migration

    The migration from MATIC to POL is a community-driven upgrade aimed at improving Polygon's future. POL will be used not only for paying fees and staking but also for securing the entire network of blockchains. The transition will be smooth, thanks to backward compatibility.

    Smooth transition or challenges ahead?

    For most MATIC holders, the switch to POL will be automatic. However, those holding MATIC on the Ethereum network will need to manually migrate their tokens through the Polygon Portal Interface. Users with hardware wallets or those on centralized exchanges should stay updated for specific instructions.

    Community reaction and price action

    Since the migration announcement, the price of POL has seen a decline. As of September 12, POL is trading at around $0.38, reflecting a 10.7% drop over the past month.

    What do experts think?

    We reached out to several industry experts for their assessment of the impact. Daria Morgen, Tim Zinin, and Vadym Grusha shared their views, highlighting the long-term benefits of POL and potential risks associated with the new token emission model.

    The road ahead

    The migration from MATIC to POL marks a new phase for Polygon, especially as competition in the layer 2 space intensifies. It's important to stay informed about upcoming updates and exercise caution when investing.

    The transition from MATIC to POL represents a significant shift for the Polygon network. Regardless of the current price dynamics, token holders and community members must stay informed to make well-grounded decisions.

0

Share

Other news

Comparative Analysis: Which Is Better - Spot Bitcoin ETFs or Direct Ownership?

An overview of the pros and cons of spot Bitcoin ETFs and direct cryptocurrency ownership. The choice depends on goals and risks.

user avatarA1

7 minutes ago

Qubetics: New Crypto Star. Ethereum and Solana Continue to Impress

Exploring why Qubetics, Ethereum, and Solana are the projects making waves in the crypto community.

user avatarA1

7 minutes ago

Crypto Whales Bet on Cardano, Dogecoin, and Rollblock for 2025

Cardano, Dogecoin, and Rollblock attract whales' attention. Learn about these cryptocurrencies' growth potential.

user avatarA1

7 minutes ago

Electric Elon Musk Memecoin Set to Become the New Crypto Star

Electric Elon Musk, a new Solana memecoin, is poised for significant price growth, attracting new investors.

user avatarA1

8 minutes ago

Meme Coin Popularity in 2024: BTFD, Mog Coin, and Neiro

Meme coins are back in the spotlight: BTFD, Mog Coin, and Neiro show significant growth potential.

user avatarA1

8 minutes ago

Bitcoin and Quantum Computing: How Taproot Nodes Help Guard Against Future Threats

Quantum computing threatens Bitcoin decades away, but Taproot nodes already enable post-quantum signatures.

user avatarA1

8 minutes ago

dapp expert logo
© 2020-2024. DappExpert. All rights reserved.
© 2020-2024. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.