The corporate behind the Ethereum (ETH) scaling resolution Polygon (MATIC) says its founders and researchers have submitted a white paper in search of to rework the platform’s native token.
Polygon Labs says the technical proposal goals to enhance and rename the MATIC token into POL because the community transitions to Polygon 2.0 designed to make the blockchain the “worth layer of the web.”
“At present, the subsequent technical proposal of Polygon 2.0 is unveiled:
POL, the upgraded token of the Polygon protocol!
POL is the subsequent era native token, designed to safe, align and develop the Polygon ecosystem.”
POL and MATIC won’t co-exist as soon as the proposed technical improve will get permitted and pushes via.
“If the neighborhood reaches consensus to undertake it, MATIC holders can have their tokens upgraded to POL in 1:1 ratio. There’ll by no means be two native tokens.”
The blockchain developer says the upgraded token can supercharge the expansion of the community. Polygon says POL is much like different productive tokens however it would usher in two game-changing enhancements.
“POL is the third era of native property – a hyperproductive token.
Holders can turn out to be validators and obtain rewards, however with two main enhancements:
Validators can validate MULTIPLE CHAINS
Chain can supply MULTIPLE ROLES (and corresponding rewards) to validators.”
Following the announcement, MATIC is buying and selling for $0.86, up by 16.26% over the previous 24 hours.
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