Polygon Network's MATIC token has been successfully changed to POL
Metic token has been successfully converted to POL token and now POL has become the main token of Polygon ecosystem. Users of this ecosystem can participate in the optimal growth of this network by using this new token.
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news summary
- The migration process of the Metic token to the new POL token has been successfully completed.
- Metic holders do not have any specific deadline to convert their tokens to POL and should follow the instructions given by their network.
According to Cointelegraph, Polygon, Ethereum's scalability solution, has made a technical update and converted its native token called MATIC to the new POL token. This transformation is part of the roadmap of the Poligan 2.0 plan and has been implemented after a year of deep technical discussions and community participation.
According to the announcement published on September 4 (14 Shahrivar), the Metic token has been converted into a new POL token with a one-to-one ratio. This token can be used to pay network gas and its staking.
According to Marc Boiron, CEO of Polygon Labs, this update will help improve user participation in the growth of the network. Boeren wrote:
Now that the 2% release rate of this token has been introduced due to this update, an opportunity has been provided for the participation of the community of this ecosystem. The publication is produced for community use.
Polygon token is the 21st largest digital currency with a market value of 3.7 billion dollars. Poligan price
MATIC:
It is currently $0.38.
POL token is Palgian's new step towards greater productivity
According to Boeren, the second reason for this update was to try to turn POL into a hyper-productive token. He explained:
POL token has moved a step forward. By using this token in different parts of the Poligan ecosystem, POL becomes a more productive token as it can earn fees from different sources.
For a better understanding of this matter, it is necessary to know that Metic Token earned fees only with the help of gas and staking system. This is while POL, in addition to these two, earns fees from other sources such as staking to secure data availability and decentralization of a sequencer. Also, other programs for earning fees by this token are considered for the future.
Convert metic to POL token; Everything we need to know about this program
Although the migration of this token was finalized on September 4 (14 Shahrivar), Metic holders do not have any special deadline.
All staked metics are automatically converted to POL tokens, and there is no need for stickers to take any special action. Metic holders in the Polygon PoS network do not need to take any special action and their assets will be converted automatically. Metic holders on the Ethereum network and Polygon zkEVM network must convert their holdings to the new POL token through token migration contracts. It should be noted that if your property is in an exchange, you should follow the announcements of that exchange.
This update has been successfully implemented on the test network on July 17. In addition, the POL token will be embedded in the new AggLayer network of the Polygan ecosystem.
Metic token migration to POL is a vital part of Polygon 2.0 vision. This plan aims to provide unlimited scalability to unify all layer 1 networks including Ethereum and even Bitcoin.
