Crypto.information – Polygon has introduced plans to interchange its native MATIC token with POL as a part of the Polygon 2.0 replace.
POL would be the instrument for coordination and development of the Polygon 2.0 ecosystem and the principle driver of the mission’s imaginative and prescient to change into the worth layer of the Web.
Polygon presents POL
After not too long ago saying a phased rollout of a community improve known as Polygon 2.0, the Sandeep Nailwal-led Layer 2 Scalable Community is now set to interchange its native MATIC token with POL as a part of the transition course of.
In response to a white paper launched by the group, POL can be on the coronary heart of Polygon 2.0, appearing as a driver for development and coordination.
The group says the creation of POL was impressed by its imaginative and prescient to change into the “worth layer of the Web” the place worth may be created and exchanged seamlessly world wide in the identical approach that data is exchanged immediately.
POL presents a number of makes use of
Because the driving power behind the coordination and development of Polygon 2.0, POL will provide a number of advantages, together with a verification facility the place members of the polygon group might want to schedule a POL to affix the verification device pool.
Like different proof-of-stake (PoS) cryptocurrencies, staking to a validator strengthens the community’s safety and protects it from Sybil assaults.
POL can even provide holders governance rights within the Polygon 2.0 ecosystem, permitting them to take part in key mission decision-making processes, amongst different advantages. Additionally, POL, like MATIC, could have an preliminary provide of 10 billion.
Nevertheless, the group has made it clear that 2% of all POL reserves can be put aside yearly for tester rewards (1%) and group treasury (1%). MATIC holders will have the ability to improve their tokens to POL utilizing official hyperlinks supplied by the polygon group.
This text was initially revealed on Crypto.information
