The Polygon crypto project will issue a new token to replace the old MATIC. Why does the blockchain need this update, so that the already well-established MATIC token can be swapped out for POL?
The update and migration of the MATIC token to POL is a key step in the development of the Polygon ecosystem. Here are several key reasons for the switchover:
1. The switch from MATIC to POL reflects the evolution of the project from a simple Ethereum sidechain to a more complex and ambitious blockchain platform. This marks a new stage in the development of Polygon.
2. POL is conceived as a “3G” token with expanded staking capabilities not only in Polygon itself, but also in other networks. This should make the token more attractive to holders and validators.
3. The new POL model likely involves more efficient distribution and use of tokens in the ecosystem, which can lead to greater network stability and sustainability.
4. The migration to POL may be related to technical updates in the network that require a new token for full implementation.
5. A major change attracts the attention of investors, developers, and users, which could elicit greater interest in the project.
The update is part of a broader Polygon 2.0 strategy aimed at strengthening the project's positioning in the market and expanding its capabilities. Thus, POL may well open up new vistas for the development of the Polygon ecosystem.