Coinbase, the most important cryptocurrency trade in america, introduced in its official assertion that it’ll now checklist the up to date and rebranded model of the Polygon Ecosystem Token (POL) as an alternative of the Polygon (MATIC) token.
In accordance with a latest announcement by the Polygon group, this strategic change goals to extend the utility and performance of the community.
The Polygon Ecosystem Token, often known as POL, was established on October 25, 2023, as a part of the broader Polygon 2.0 roadmap. This transition represents a big development within the evolution of the community, notably Layer 2 chains powered by zero-knowledge (zk) know-how.
A distinguished characteristic of the POL token is its re-staking protocol, which permits token holders to stake on a number of chains throughout the Polygon community. This multi-chain staking characteristic is designed to assist numerous capabilities and allow community growth.
The introduction of POL additionally aligns with the continuing growth of a brand new staking layer throughout the Polygon ecosystem.
The transition from MATIC to POL was scheduled to happen on September 4, 2024 (as we speak).
*This isn’t funding recommendation.
