# $MATIC IS TRANSFORMING INTO $POL

**Published by:** [harecrypta.eth](https://paragraph.com/@harecrypta/)
**Published on:** 2023-07-16
**URL:** https://paragraph.com/@harecrypta/matic-is-transforming-into-pol

## Content

https://t.me/HareCrypta_lab_ann/3136 The founders and researchers of Polygon have proposed a token upgrade that will replace the existing $MATIC token with $POL. This will allow $POL to be used as a universal token for all networks built on Polygon. $POL will underpin the Polygon 2.0 Staking Layer. Validators will need to stake their $POL to participate in the block production process on any chain in the ecosystem, including Validium, zkEVM rollup, and Supernets. ✅ What are the benefits of the update? 🔶 The ability to become a validator; 🔶 The opportunity to earn protocol rewards; 🔶 The opportunity to earn transaction fees; 🔶 Additional rewards (depending on the chain); 🔶 Enhanced security and scalability; 🔶 Governance. To carry out the upgrade, you will need to send $MATIC to a special upgrade smart contract, which will automatically return an equivalent amount of $POL. Token holders will be given a sufficient period to carry out the upgrade. The plan is for four years or even more, if the initiative receives community support. ✅ What is $POL's tokenomics? 🔶 Initial supply — 10 billion, same as $MATIC; 🔶 2% annual $POL token emission — validator rewards (1%), public treasury (1%). ▶️ Why is this important? It appears that $MATIC will transition from a gas token to a reward and governance token $POL. If the upgrade is adopted, it could stimulate accelerated growth and development of the Polygon network. @evaneskate #polygon VC | Telegram | Twitter | Youtube | Website

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