TechFlow reported on September 4 that, according to The Block, the Polygon development team has officially announced the successful migration of the MATIC token to POL. POL is now the native gas and staking token on the Polygon PoS chain, and major exchanges are expected to list it progressively. This migration marks a key step in Polygon's evolution toward a ZK-based chain and integration with AggLayer, aiming to unify liquidity and state across multiple chains.
POL will retain MATIC’s original token economics model, distribution schedule, and total supply cap of 10 billion. MATIC holders on the Polygon PoS chain do not need to take any action, as their tokens will be automatically upgraded to POL. However, holders of MATIC on Ethereum, Polygon zkEVM, or centralized exchanges must actively migrate their tokens to POL via the migration contract.
Previous report, the Polygon Foundation announced on X that Polygon's mainnet upgrade is scheduled for September 4, 2024.
