Polygon has initiated the upgrade of its POL token on the Ethereum Mainnet. This upgrade allows token holders to become validators within the network and stake their holdings across compatible chains, earning rewards and transaction fees. Existing MATIC holders have a four-year migration window to transition seamlessly to POL. The upgrade also includes enhancements to the gas token system and the Intelligent Bridge MATIC contract. Polygon aims to transition its Proof of Stake (PoS) chain exclusively to zkRollup for improved scalability and efficiency, and establish a new interoperability standard for its chains. The announcement of the transition caused a 4% drop in MATIC’s price.
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