Polygon Has Successfully Migrated MATIC Tokens to POL
2024-09-04
Bittime - Polygon has completed the MATIC token migration process to POL. Read this article to find out the full news!
Migration MATIC Token to POL
After the migration of MATIC tokens to POL, POL tokens officially became the native gas and staking tokens on the Polygon PoS network.
This means that POL tokens are now used to pay transaction fees and are also used by validators in staking mechanisms to secure the network.
The Polygon team said that several exchanges will soon launch this POL token, so it will be more accessible to users.
Read Also: Polygon will Migrate MATIC Tokens to POL on September 4, 2024
MATIC Token Holder
For those of you who hold MATIC tokens on the Polygon PoS network, no need to worry. MATIC tokens will be automatically upgraded to POL tokens.
However, for MATIC holders who store them on Ethereum, Polygon zkEVM, or on CEX, you need to take action to migrate MATIC tokens to POL via the provided migration contract.
Objective MATIC Token Migration to POL
The migration of the MATIC token to POL is not just about renaming the token or updating the technology, but rather part of Polygon's plan to develop into a ZK network integrated with AggLayer.
The main goal of this integration is to unify liquidity and status between various blockchain chains, which will ultimately provide a more efficient and decentralized experience for users.
Read Also: Migrating Galxe (GAL) Tokens to Gravity (G), Here's How to Convert!
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