Polygon Switches From MATIC to POL Token in September

Polygon Labs, the main developer behind Layer-2 network Polygon, announced that it will be performing a technical upgrade on September 4, replacing the MATIC token with the new POL token.

The transition is part of a revamp announced in Polygon’s “Polygon 2.0” roadmap last year. First proposed in July 2023, the change would make the POL token the primary token for all Polygon networks.

The revamp will come as a technical upgrade that will allow POL to become the native gas and staking token for Polygon’s main proof-of-stake chain (Polygon PoS). In later stages of the upgrade, POL will also begin securing other blockchains on the network, including AggLayer.

As the Polygon team notes, MATIC holders on the Polygon PoS chain will not need to do anything for this upgrade and their tokens will automatically appear as POL.

As part of the transition, Polygon will be testing the token upgrade in a testnet environment on July 17 to determine if there are any issues before POL is rolled out to the mainnet.