Polygon Labs Deploys POL Token Improve on Ethereum Mainnet

Polygon Labs has introduced that the POL token improve is now stay on the Ethereum mainnet.

The improve to POL has been initiated on the Ethereum mainnet following a number of months of growth, group session, and a profitable testnet launch.

POL Token Improve Goes Reside

Regardless that POL has been deployed on the mainnet, this doesn’t indicate that the token will routinely change MATIC. Such a transition requires approval by means of governance processes and will probably be synchronized with the launch of the Polygon 2.Zero improve.

In keeping with the official announcement, the POL improve serves as a stepping stone for the upcoming objectives outlined within the Polygon 2.Zero roadmap.

“POL, a next-generation hyperproductive token, will energy an enormous ecosystem of zero knowledge-based Layer 2 chains by way of a local re-staking protocol that enables POL holders to validate a number of chains and carry out a number of roles on every of these chains (sequencing, ZK proof technology, participation in information availability committees, and so on.).”

This contains the introduction of a staking layer to help Polygon L2s, the development of Polygon PoS to zkRollup, and the implementation of ZK-powered interoperability and shared liquidity protocol for all these L2s.

Polygon Labs clarified that the improve doesn’t alter lively programs on both the Polygon PoS or Polygon zkEVM networks right now. In truth, all present contracts will proceed to perform as beforehand designed.

Polygon 2.0

In June 2023, Polygon Labs launched Polygon 2.Zero with a imaginative and prescient for a scaling ecosystem comprising 4 distinct protocol layers – staking, interop, execution, and proving – in a bid to create an interconnected chain ecosystem that facilitates speedy worth switch and seamless info change utilizing zero-knowledge expertise.

Subsequently, the scaling tech firm introduced three Polygon Enchancment Proposals (PIPs) detailing its formidable roadmap.

The newest growth doesn’t appear to have had any influence on MATIC, which was down by 4.10% over the previous day and was at the moment buying and selling at $0.634. Zooming out, the token recorded practically 25% in month-to-month features regardless of being embroiled amidst regulatory turmoil.