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.
POL is a large technical improve to MATIC
POL delivers the advantages of multi-chain staking with out the added dangers of restaking. With the Polygon 2.0 proposal, the Polygon Ecosystem will increase from a single chain to an ecosystem of L2s that may simply interoperate and share…
— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) August 28, 2023
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.
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