Polygon Attempts A Game-Changing Move: Upgrading MATIC To Super-Token POL

Polygon MATIC/USD has proposed a technical upgrade of its native asset, MATIC, to POL.

The proposal was detailed in a white paper published by Polygon's founders and researchers.

The new token, POL, is designed to become the primary tool for the growth of the Polygon ecosystem and to drive its vision of becoming the Value Layer for the Internet.

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POL is designed as a third-generation native asset, termed a "hyperproductive token."
POL differs from Bitcoin BTC/USD and Ethereum ETH/USD in that it:

• Allows holders to validate multiple chains and perform multiple roles within each chain.
• Ensures ecosystem security through a decentralized pool of Proof-of-Stake (PoS) validators
• Supports infinite scalability
• Provides ecosystem support through a sustainable, in-protocol mechanism
• Enables community ownership by holding governance rights.

POL also revolves around validators, aligning and incentivizing them to perform useful work.

Validators are required to stake POL to join the validator set, which prevents Sybil attacks, aligns validators with the ecosystem's success, and enables the punishment of malicious validators.

Polygon, an Ethereum scaling platform, proposes to introduce continuous POL emission to fund a Community Treasury, a self-sustainable ecosystem fund that can support protocol development, research, ecosystem grants, and adoption incentives.

The upgrade from MATIC to POL requires sending MATIC to the upgrade smart contract, which will automatically return the equivalent amount of POL.

Token holders will be given ample time, possibly four years or more, to upgrade.

If the community consensus supports this proposal, the migration could start within months.

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