Polygon launches the upgrade of MATIC to POL token, with an annual issuance rate of 2%

2024-09-03 22:52:56

Abstract generation in progress

Golden Finance reported that Polygon will officially launch the upgrade of its long-term used MATIC Token to the new POL Token this Wednesday. This upgrade is part of the "Polygon 2.0" roadmap, aiming to enhance the flexibility of Token issuance, making POL the native Token of the Polygon PoS chain and other chains in its ecosystem. The annual issuance rate of the new POL Token will be 2%, with a portion of the supply being used to reward validators of the Polygon PoS, and another portion entering the community treasury to support the sustainable development of the ecosystem. Marc Boiron, CEO of Polygon Labs, stated that this upgrade is due to the technical limitations of the MATIC Token, and the new Token issuance method will provide support for the development of the community and the Decentralization of the network.

POL-1.61%

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