Coinbase, the biggest cryptocurrency alternate in the US, introduced in its official assertion that it’s going to now checklist the up to date and rebranded model of the Polygon Ecosystem Token (POL) as an alternative of the Polygon (MATIC) token.
In line with a latest announcement by the Polygon staff, this strategic change goals to extend the utility and performance of the community.
The Polygon Ecosystem Token, generally known as POL, was established on October 25, 2023, as a part of the broader Polygon 2.0 roadmap. This transition represents a major development within the evolution of the community, notably Layer 2 chains powered by zero-knowledge (zk) expertise.
A distinguished characteristic of the POL token is its re-staking protocol, which permits token holders to stake on a number of chains inside the Polygon community. This multi-chain staking characteristic is designed to help numerous features and allow community growth.
The introduction of POL additionally aligns with the continued growth of a brand new staking layer inside the Polygon ecosystem.
The transition from MATIC to POL was scheduled to happen on September 4, 2024 (at this time).
*This isn’t funding recommendation.
