Polygon Labs has announced the much-anticipated migration date for transitioning from MATIC to POL, setting the stage for a significant evolution in the network’s capabilities. Mark your calendars for September 4, as this date kicks off the first phase of this transformative upgrade. Dive into the details of what this migration means and how it could impact you.
What the Polygon MATIC to POL Migration Is About
The upcoming POL migration is more than just a simple token swap; it's the beginning of a strategic upgrade aimed at enhancing Polygon's scalability and functionality. As part of Polygon Labs' new roadmap, the network plans to adopt an aggregated chain architecture designed to horizontally connect numerous chains on top of Ethereum's Layer 1. This approach aims to infinitely scale Ethereum, providing unparalleled flexibility and performance.
The POL token will eventually serve as a "hyperproductive token," allowing holders to stake it to validate transactions across multiple chains within the Polygon ecosystem. For now, the primary change will be POL replacing MATIC as the native gas and staking token for the Polygon Proof-of-Stake PoS network.
Unlike MATIC, which has a fixed supply of 10 billion tokens, POL is inflationary, increasing by 2% annually. This design allows the token to support an expanding number of chains, ensuring the ecosystem can grow without limitations.
What You Need To Do to Migrate Your MATIC to POL
The process of migrating your MATIC tokens to POL varies depending on where and how you hold them. Here’s a comprehensive guide to ensure a smooth transition:
SAVE THE DATE: MATIC → POL
— Polygon Foundation (@0xPolygonFdn) July 18, 2024
After community consensus, the long-awaited upgrade is set for September 4th
• Initial phase: POL replaces MATIC as the native gas and staking token for Polygon PoS
• Subsequent phases: POL will serve a crucial role in the AggLayer
More details🧵 pic.twitter.com/SyxsFAlOeZ
MATIC Holders on Polygon PoS
If your MATIC tokens are held on the Polygon PoS network, the migration will be automatic. However, you will need to update your wallet settings to reflect the ticker change from MATIC to POL. For instance, in MetaMask, navigate to Settings > Networks, and update the "Currency symbol" field from "MATIC" to "POL."
MATIC Holders on Ethereum
For those holding MATIC on Ethereum, you can migrate your tokens using the token migration contract available on Etherscan. If you're not comfortable interacting with smart contracts, an easier alternative is to swap your MATIC for POL via a decentralized exchange aggregator.
MATIC Holders on Polygon zkEVM
MATIC holders on Polygon zkEVM have two options: bridge your tokens to Ethereum and use the migration contract, or perform the swap on a local decentralized exchange DEX.
MATIC Holders on Centralized Exchanges
If your MATIC tokens are on a centralized exchange, each platform will have its guidelines for the migration. Generally, no action will be required from you, as the exchange will handle the process internally.
Stay Ahead of the Curve
Polygon Labs has already launched the POL upgrade on testnet, providing an opportunity for users and developers to familiarize themselves with the new system ahead of the mainnet upgrade. This proactive approach ensures a smoother transition and minimizes potential disruptions.
Stay Informed and Engaged
For the latest updates, news, and guides on navigating the crypto world, follow our blog. We regularly share information on airdrops, earning opportunities, and more. Support our efforts by making a small contribution:
- Bitcoin: bc1q20zx0j2fmmk9jca49hanrk2gl3hgqtysuy6fsv
- Ethereum: 0x2132aa994E6b0cb0Bc86074Cb75624FAC71b8548
- Doge: DJb9299NMr8kWfqNLwZkbaV7P5kgEANHWB
- Solana: CMNBYVJi3Z8axYnu44YKpHhsyrKc3ZtszcznaYEguhSA
Connect with Us on Social Media
- Facebook: https://www.facebook.com/CriptoCanadas/
- Instagram: https://www.instagram.com/cryptocanadas/
- Twitter: https://twitter.com/cc4n4d4s
- Tangled: https://tangled.com/u/cryptocanadas
Stay tuned for more updates as we continue to guide you through the dynamic world of cryptocurrency and blockchain technology.
Sem comentários:
Enviar um comentário