Founders and researchers Polygon offered a token refresh that will replace existing $MATIC token on $POL. This will allow $POL to be used as universal token for all networks built on the basis of Polygon.
$POL will provide Scaling Layer Polygon 2.0. Validators will need to stake their $POL to participate in the process block production in any chain of the ecosystem, including Validium, zkEVM rollup and Supernets.
What are the benefits of the upgrade?
🔶 Opportunity to become a validator;
🔶 Ability to earn protocol rewards;
🔶 Ability to earn commission for transactions;
🔶 Additional rewards (depending on the chain);
🔶 Increased security and scalability;
🔶 Management.
For performing an update will need to send $MATIC to a special smart contract update, which will automatically return equivalent amount $POL.
Token holders will be provided sufficient period of time to perform the update. Planned four years or moreif the initiative receives community support.
What is the tokenomics of $POL?
🔶 Initial offer is 10 billion, same as $MATIC;
🔶 2% $POL annual token emission - validator rewards (1%), public treasury (1%).
Why is it important?
It looks like $MATIC will move from gas token to reward token And management $POL.
If the update is accepted, it could stimulate accelerated growth and development Polygon networks.
Author: @evaneskate
