Polygon Migrate MATIC Token to POL, A New Era Begins

Bittime – Polygon, one of the leading blockchain networks, has successfully introduced its new native asset, namely POL. This important step marks the start of a new era for blockchain users and observers.

Understand well about Polygon migrating MATIC tokens to POL in full in this article.

MATIC to POL Exchange

MATIC token holders can claim POL at a 1:1 ratio if their holdings have not been converted to POL.

Those holding Ethereum-linked MATIC in their wallets will need to visit the Polygon Portal Interface to exchange it for POL using a migration contract.

Polygon warns users to be careful when using migration contracts. Mistakes in calling contracts can result in loss of funds.

Therefore, it is important to follow the instructions carefully and ensure that you use the correct migration contract.

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POL: The Essential Token in Polygon 2.0

Some dApps such as KyberSwap and CoW Swap have integrated migration contracts into their platforms. This can make it easier for users to migrate their assets.

Upgrading to POL marks the start of the Polygon 2.0 era. POL will play a central role in this modular blockchain ecosystem.

Apart from being a gas token for transactions, POL will also be used for staking in the data availability layer, sequencer, and various other use cases.

Polygon 2.0: A Promising Future

Polygon 2.0 is Polygon's long-term vision to become a more scalable, efficient, and decentralized blockchain ecosystem. With POL as a new native asset, Polygon 2.0 will open new opportunities for developers and users.

Here are the main features in Polygon 2.0:

1. Higher Scalability: Polygon 2.0 will use the latest technologies to increase network scalability, so it can support a larger number of transactions.
2. Better Efficiency: Polygon 2.0 will optimize resource usage to reduce transaction costs and increase network speed.
3. Higher Decentralization: Polygon 2.0 will expand the validator network to increase decentralization and security.
4. Integration with Ethereum: Polygon 2.0 will remain compatible with Ethereum, enabling interoperability between the two networks.

The Potential of Polygon 2.0

With better features, Polygon 2.0 can attract more developers and users. As the Polygon ecosystem grows, the value of the POL token may increase.

Polygon 2.0 can encourage the development of new applications that utilize blockchain technology.

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Conclusion

Migrating from MATIC to POL is an important step for Polygon. With POL as a new native asset, Polygon can expand its reach and potential as a leading blockchain ecosystem.

For MATIC users, it is important to migrate on time and follow the instructions carefully to avoid losses.

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