The upcoming upgrade of the Polygon proof-of-stake (PoS) network will involve the replacement of its original MATIC token with POL (POL) tokens on September 4. This move is part of the Polygon 2.0 roadmap, which aims to enhance the functionality of the native token and support the growing network of aggregated blockchains known as AggLayer.
The POL upgrade was initially rolled out on the Polygon testnet on July 17, giving the community about six weeks to identify and resolve any potential issues before the mainnet migration. During the initial phase, POL tokens will take over as the native gas and staking token for Polygon PoS, replacing MATIC. However, the Polygon community believes that the new “future-proof native token” holds even greater potential.
As per the current community consensus, POL will play a broader role in the upcoming Polygon staking hub in 2025. This includes responsibilities such as block generation, zero-knowledge proof generation, and participation in Data Availability Committees (DACs).
To ensure a smooth migration from MATIC to POL, users, developers, and infrastructure providers are advised to make use of the recent POL upgrade on the testnet. MATIC holders on Polygon PoS will be automatically upgraded to POL without any action required. However, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges will need to bridge, update smart contracts, or use a migration contract on a case-by-case basis for a manual upgrade. Failure to update the RPC settings in wallets like MetaMask, Rabby, and Zerion may result in the display of “MATIC” instead of “POL” as the token symbol for the native gas token on the Polygon PoS chain.
In addition to the POL upgrade, Polygon Labs is collaborating with the TON Application Chain (TAC) to bring Ethereum Virtual Machine (EVM) functionality to the TON ecosystem. This integration allows for the development of EVM-compatible decentralized applications (DApps) on the TON L2, leveraging Polygon CDK and the interoperability protocol Agglayer. This partnership highlights the commitment to expanding the capabilities of the Polygon network and promoting cross-chain interoperability.
In conclusion, the upcoming upgrade of the Polygon network will introduce the POL token as the replacement for MATIC. This upgrade aims to enhance the utility of the native token and support the growth of the network. Users are advised to take the necessary steps for a smooth migration, and Polygon Labs continues to collaborate with partners to expand the network’s capabilities.