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Polygon Prepares Huge Upgrade, Switching From MATIC to Hyper-Productive POL

Published 01/17/2024, 07:30 PM
Updated 01/17/2024, 07:45 PM
Polygon Prepares Huge Upgrade, Switching From MATIC to Hyper-Productive POL
MATIC/USD
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  • According to Polygon’s founder, the anticipated upgrade of the Layer-two blockchain will happen this year.

  • After upgrading, Polygon will switch from MATIC to POL as its native token.

  • Polygon founder said POL will be a multichain, hyper-productive token.

According to Polygon Founder Sandeep Nailwal, the anticipated upgrade of the Layer-two blockchain will happen this year. The upgrade would see Polygon change the ticker of its native token from MATIC to POL, among other features.

In a recently uploaded video, Nailwal explained the characteristics of the upcoming POL token. According to him, POL will be a multichain token, a quality he thinks would make it relevant in the blockchain ecosystem. He noted that the inbuilt tokenomics of POL ensure 1% inflation per year.

Nailwal further explained that POL’s inflation was a deliberate introduction to incentivize validators. He believes such incentivization would motivate them to keep validating and securing the network. He noted tha…

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