Polygon 2.0 Roadmap: MATIC Token Migration Scheduled For Q4

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The Polygon network has published its roadmap for the upcoming Polygon 2.0, which includes migration from MATIC to POL token and the staking layer deployment.

Three Pivotal PIPs

Polygon, a prominent player in the blockchain space, has taken a significant stride by revealing its comprehensive roadmap for Polygon 2.0. This eagerly awaited upgrade encompasses a migration from MATIC to POL tokens and the deployment of a staking layer. The publication of this roadmap signals a new chapter in the evolution of Polygon.

These three pivotal Polygon Improvement Proposals (PIPs) are promising to reshape the blockchain landscape, with PIP-18, representing Phase 0, set to construct an intricate network of interconnected zero knowledge-powered Layer 2 chains. The objective is to elevate Ethereum to a scale akin to that of the Internet itself.

The Transition: MATIC to POL

Under the PIP-17 proposal, the POL token will come to the forefront of the Polygon ecosystem. It will be taking over from MATIC as the chief player in handling emissions through a migration of tokens from MATIC to POL.

This transition promises to unlock new avenues for staking, community ownership, and governance within the Polygon ecosystem. The POL token will not only serve as the native token for Polygon’s Proof of Stake (PoS) but also as the designated staking token for the PoS network.

The team revealed that the transition will not affect any contracts on the network.

“This upgrade will not change any of the contracts on Polygon PoS and the native token’s properties will remain unchanged. All contracts on Polygon PoS will function as currently designed. Contracts on Ethereum expecting MATIC from the native MATIC Bridge may be affected by this upgrade.”

The Ambitious Phase 0 (PIP-18)

The PIP-18 details Polygon 2.0’s Phase 0, which is an ambitious endeavor to construct a network of zero knowledge-powered Layer 2 chains. The ultimate goal is to elevate Ethereum’s scalability, making the network capable of handling transactions and smart contracts at t

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Author: Amara Khatri

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