Polygon, a layer-2 network built on Ethereum, is planning to revamp the tokenomics of its native token, MATIC. The new token, called POL, will be a “hyperproductive token” that can be used by validators to secure multiple chains. The migration from MATIC to POL will be handled through a smart contract. Token holders will have more than four years to transfer their assets. The initial supply of POL will be capped at 10 billion, and the emission rate will be capped at 1% each year for the next ten years. The article also includes information about upcoming events and unrelated news topics.
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