POL: The Hyperproductive Token Ready to Replace MATIC

• Polygon Labs has proposed the introduction of POL as an upgraded token for the Ethereum scaling solution protocol.
• If approved, holders would be able to act as validators and POL would serve as Hyperproductive tokens.
• MATIC, the current native token of Polygon, has seen a decrease in value by 34.56% in the past 90 days.

Polygon Proposes Upgraded Token

Polygon [MATIC] Labs’ new proposal may see the project’s native token make way for an upgraded one. According to the Ethereum [ETH] scaling solution, MATIC could be replaced with POL if the technical proposition passes approval and enables holders to act as validators.

Tokenomics Details Shared

It is expected that POL will not be a complete change from MATIC but a third-generation native token that aligns with Polygon 2.0—the redesigned protocol infrastructure. The Zero-Knowledge (ZK) powered cross-chain coordination protocol was introduced by Polygon and said to unify L2 chains with liquidity and scalability.

MATIC’s Performance

Since 2020, MATIC has been the native token of the Polygon network and its all-time performance according to CoinMarketCap was 17,347%. However, In the last 90 days its value has decreased by 34.56%.

SEC Security Proscription

The Security Exchange Commission (SEC) security proscription had nothing to do with this proposal according to Polygon Labs statement on Twitter which stated: “Today, the next technical proposal of Polygon 2.0 is unveiled: POL, the upgraded token of the Polygon protocol!”

Conclusion

The new token if finally introduced will mean MATIC will cease to exist which could have dire consequences for holders who invested in it expecting returns but only time will tell if POL is approved or not