Saturday, September 23, 2023
    HomeAltcoinPolygon Founder Charts MATIC's Imminent Upgrade to POL

    Polygon Founder Charts MATIC’s Imminent Upgrade to POL


    Polygon’s native token, MATIC, is poised for a metamorphosis. Sandeep Nailwal, the founding father of Polygon Labs, has hinted at a major technical improve that may evolve MATIC into POL, touted as a “third-generation token.”

    In line with Nailwal’s X platform put up, the upcoming POL evolution represents greater than a reputation change. POL encapsulates developments that provide the attract of multi-chain staking minus the dangers historically related to restaking. 


    As Polygon 2.0 unfolds, the platform would burgeon from a single chain to a whole ecosystem of interoperable L2s, which may seamlessly share liquidity amongst themselves.

    The Performance of POL

    In Polygon 2.0, the introduction of the newly devised POL will see it staked in a delegated ‘staking hub.’ This mechanism, termed “enshrined restaking,” empowers POL to stake throughout numerous chains and tackle different roles. Consequently, stakers might reap enhanced rewards with out rising their staked capital. 

    Highlighting the transformation of tokens over time, Nailwal in contrast the passive nature of BTC’s first-generation holders with the energetic staking capabilities ETH launched within the second technology. With the third-generation POL, holders are introduced with unprecedented versatility, securing a number of networks and embracing a spectrum of roles.

    A urgent concern raised by a person revolved across the transition mechanism. The person, who had staked MATIC, was eager on understanding how the shift would affect their staked tokens. Nailwal responded by hinting at a streamlined “1/2 click on improve” from staked MATIC to staked POL, assuring extra readability on the governance approval.

    Present Market Dynamics

    As of now, Polygon’s valuation hovers at $0.569232 per token. Regardless of witnessing a slight 4.32% dip prior to now 24 hours, its market cap stands strong at over $5.3 billion, rating 14th on CoinMarketCap. Out of a most provide of 10 billion MATIC cash, round 9.3 billion are circulating, signaling sturdy investor belief and a possible development trajectory.

    The evolution from MATIC to POL guarantees a contemporary chapter of innovation and alternatives. Because the group eagerly awaits extra particulars, it’s evident that Polygon is charting a course towards uncharted territories.

    Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency house for two years now. Beforehand he co-founded Govt. of India supported startup InThinks and is at present Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has revealed greater than 100 articles on cryptocurrency and blockchain and has assisted various ICO’s of their success. He has co-designed blockchain growth industrial coaching and has hosted many interviews in previous. Comply with him on Twitter at @sharmasunil8114 and attain out to him at sunil (at)

    The introduced content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.

    Source link

    Related articles


    Please enter your comment!
    Please enter your name here


    Latest posts