-1.43% Bitcoin (BTC) 90059.7 EUR
-1.97% Ethereum (ETH) 2058.19 EUR
-1.76% Litecoin (LTC) 71.55 EUR
+2.03% B-Cash (BCH) 443.68 EUR
-0.43% Ethereum (ETH) 0.0230785 BTC
-0.12% Litecoin (LTC) 0.00080396 BTC
+3.31% B-Cash (BCH) 0.00493991 BTC
-1.18% Bitcoin (BTC) 107053.4552 USDC
-0.23% USD Coin (USDC) 0.84 EUR
-2.51% Chainlink (LINK) 11.16 EUR
-1.06% Chainlink (LINK) 0.00012408 BTC
-2.71% Dogecoin (DOGE) 0.13 EUR
-1.29% Dogecoin (DOGE) 0.00000151 BTC
-3.38% Uniswap (UNI) 5.93 EUR
-2.08% Uniswap (UNI) 0.00006615 BTC
-3.60% Cardano (ADA) 0.46 EUR
-1.87% Cardano (ADA) 0.00000522 BTC
-0.23% Tron (TRX) 0.23 EUR
+1.53% Tron (TRX) 0.00000265 BTC
-1.63% Shiba Inu (SHIB) 0.00000958 EUR
-6.12% Zcash (ZEC) 31.69 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-4.18% Arbitrum (ARB) 0.3267 USDC
-2.50% Chainlink (LINK) 13.01 USD
-2.16% Chainlink (LINK) 13.00232 USDC
-3.45% Uniswap (UNI) 6.923 USDC
-2.62% Ondo (ONDO) 0.63 EUR
-2.86% Ondo (ONDO) 0.74498 USDC
-4.04% Gala (GALA) 0.01 EUR
-3.64% Gala (GALA) 0.01368 USDC
-0.16% Wormhole Token (W) 0.06 EUR
-0.41% Wormhole Token (W) 0.0713 USDC
-2.47% Chiliz (CHZ) 0.02 EUR
-2.48% Chiliz (CHZ) 0.0342 USDC
-2.07% Sand (SAND) 0.19 EUR
-1.97% Sand (SAND) 0.2334 USDC
-3.69% Aave (AAVE) 225.21 EUR
-3.57% Aave (AAVE) 264.9 USDC
+0.50% Curve DAO (CRV) 0.43 EUR
+0.37% Curve DAO (CRV) 0.5105 USDC
-3.73% Immutable X (IMX) 0.36 EUR
-3.62% Immutable X (IMX) 0.4259 USDC
0.00% Skale (SKL) 0.07 USDC
-3.50% Beam (BEAM) 0 EUR
-3.54% Beam (BEAM) 0.00542 USDC
0.00% Axelar (AXL) 1.05 USDC
-5.44% Livepeer Token (LPT) 5.08 EUR
-5.13% Livepeer Token (LPT) 5.949 USDC
-5.41% Compound (COMP) 35.86 EUR
-5.67% Compound (COMP) 42.29 USDC
0.00% Coti (COTI) 0.04 EUR
+1.42% Coti (COTI) 0.0499 USDC
0.00% Portal (PORTAL) 1.1 USDC
+0.93% Sushi (SUSHI) 0.49 EUR
+1.61% Sushi (SUSHI) 0.5852 USDC
+1.78% Pepe (PEPE) 0 EUR
+2.16% Pepe (PEPE) 0.00000945 USDC
+2.08% Optimism (OP) 0.45 EUR
0.00% Polygon (MATIC) 0.2 EUR
+3.56% Solana (SOL) 125.71 EUR
+5.31% Solana (SOL) 0.0013922 BTC
+3.83% Solana (SOL) 0.060805 ETH
+0.16% USD Coin (USDC) 0.72 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

Polygon launches POL token contract on Ethereum to eventually replace MATIC

10-26-2023

The team migrated the POL token contract to the Ethereum network, paving the way for it to replace MATIC in the future.

Polygon Labs has launched the Ethereum contract for the new Polygon token, POL, according to an Oct. 25 announcement. The new token is intended to replace the ecosystem’s current token, MATIC MATIC tickers down $0.6367. However, the team said users presently don’t need to exchange their MATIC for POL.

According to blockchain data, the new token was created on Oct. 25 at 9:06 am UTC. Its full name is the “Polygon Ecosystem Token.” In the announcement, the Polygon team claimed that POL would “power a vast ecosystem of zero knowledge-based Layer 2 chains” by implementing a “re-staking protocol” that allows tokenholders to stake it on multiple chains, performing multiple functions in the process.

The token’s launch will now pave the way for other aspects of the Polygon 2.0 roadmap to be implemented, including the launch of a new staking layer for the Polygon ecosystem, upgrading the current proof-of-stake (PoS) network to zkEVM layer-2, and creating a shared liquidity protocol for all Polygon networks, the post stated.

The team emphasized that POL is not currently being used for any systems in the Polygon network. Staking on both Polygon PoS and Polygon zkEVM is still being performed via the old token, MATIC, and gas fees on the PoS network are still being paid for with MATIC. So, users, validators,and app developers do not need to exchange their MATIC for POL at present.

Polygon Labs first announced it was developing a new layer-2 ecosystem on June 29. It called the new ecosystem “Polygon 2.0.” On Sept. 14, the team announced that Polygon 2.0 would use a new token, POL. But at the time, the token was just a proposal and had not been deployed to Ethereum. 

Polygon’s proposed layer-2 ecosystem will use zero-knowledge proofs to validate transactions between networks. It will face competition from the Optimism ecosystem proposed by Optimism Labs, which will use optimistic rollup technology to secure messages between networks.

Source: Cointelegraph.