Polygon Founder Unveils Large Technical Improve to MATIC With POL

• Polygon founder introduced the launch of a brand new community token, POL.
• POL is ready to be an enormous technological improve in comparison with MATIC.
• The brand new token will enable staking throughout a number of chains with out the dangers linked with restaking.

On August 28, Polygon founder Sandeep Nailwal introduced an enormous improve, introducing a brand new token referred to as POL. Nailwal establishes in his tweet that “POL is an enormous technical improve to MATIC.”

In line with Nailwal, POL will get rid of dangers related to restaking whereas providing the identical advantages of multi-chain staking. POL aligns with Polygon’s enlargement plans of remodeling into an ecosystem of L2s, sharing liquidity amongst one another as a substitute of staying in a single chain.

POL’s whitepaper highlighted that Polygon 2.0 will function a constellation of ZK-powered Layer 2 chains, introduced collectively by an modern cross-chain coordination protocol, accommodating a lot of chains with seamless cross-chain interactions. Nailwal clarified that in Polygon 2.0, people stake POL inside the staking hub, enabling them to subsequently restake POL for the aim of validating quite a few chains inside the community. The founder additional defined:

We name this method ‘enshrined restaking.’ POL can natively be used to stake any variety of chains and take part in any variety of roles. This lets stakers earn greater rewards with the identical staked capital.

Adopted by Bitcoin and Ethereum, POL advances as hyperproductive tokens that not solely allow validation and rewards throughout quite a few chains but in addition supply a number of roles and corresponding rewards inside every chain, famous Polygon 2.0’s Tokenomics doc.

Undertaking managers on crypto Twitter appear enthusiastic about Polygon’s shift to the “Worth Layer of the Web.” Emphasizing the evolving dynamics of the crypto ecosystem, a consumer suggested merchants to “say goodbye to MATIC,” and embrace POL because the token economics additionally bear a shift.