Polygon's native cryptocurrency MATIC has undergone a key technical upgrade, transitioning to the new Polygon Ecosystem Token (POL) on a 1:1 basis. The upgrade, which took effect on September 4th, positions POL as the network's native gas and staking token, better enabling the community to participate in Polygon's growth.

According to Marc Boiron, the CEO of Polygon Labs, the POL token has evolved into a "hyperproductive" asset, allowing the community to engage more effectively in the network's development. This upgrade is part of Polygon's broader plans for Polygon 2.0, which the company has been discussing with the community over the past year.

Polygon's token is currently the world's 21st largest cryptocurrency with a $3.7 billion market capitalization. The transition to POL is expected to further enhance the token's utility and drive increased participation from the Polygon ecosystem. The move is seen as a significant milestone in Polygon's ongoing efforts to expand the capabilities and adoption of its blockchain network.

Source: https://cointelegraph.com/news/polygon-upgrades-matic-pol-token

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