Polygon, a popular blockchain platform, is considering replacing its native token, MATIC, with a new token in its upcoming 2.0 upgrade. The development team has released proposals outlining the upgrade and specifications for the new architecture. Community feedback is being sought before implementing these proposals. The decision to replace MATIC is unrelated to the SEC’s classification of MATIC as an unregistered security. Since the SEC’s action, MATIC has experienced a 40% decrease in value. The upgrade is expected to take place in 2024.

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