Polygon Labs claimed that the POL token will have “re-staking” functionality, allowing it to be used on multiple Polygon networks.
The team migrated the POL token contract to the Ethereum network, paving the way for it to replace MATIC in the future.the Ethereum contract for the new Polygon token, POL, according to an October 25 announcement. The new token is intended to replace the ecosystem’s current token, MATIC. However, the team said users presently don't need to exchange their MATIC for POL.Polygon 2.0, released this summer, is a roadmap for scaling Ethereum to build the Value Layer of the Internet.
The token’s launch will now pave the way for other aspects of the Polygon 2.0 roadmap to be implemented, including the launch of a new staking layer for the Polygon ecosystem, upgrading the current Proof of Stake network to zkEVM layer-2, and creating a shared liquidity protocol for all Polygon networks, the post stated.The team emphasized that POL is not currently being used for any systems in the Polygon network.
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