MATIC → POL Migration: Everything You Need to Know

Polygon is a Layer Two or sidechain scaling solution that runs alongside the Ethereum blockchain — enabling speedy transactions and low fees. After a year of community discussions and consensus, Polygon has announced a major upgrade to its native token. MATIC has been upgraded to POL, the new token that will power the Polygon network. The migration, which began on September 4, 2024, is an important milestone in Polygon's evolution as it transitions from a single proof-of-stake (PoS) network into an ecosystem of interconnected blockchains powered by zero-knowledge (ZK) technology.

In this article, we will explore Polygon’s recent projects, use cases and tokenomics, and learn how to buy MATIC using Trust Wallet.

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Polygon's recent projects and advancements

Since its inception in 2017, Polygon has undergone rapid technological developments. The development of the Polygon SDK, a flexible framework for creating various applications, including standalone and secured chains, has been a significant advancement. Plasma Chains, a scaling solution that uses fraud proofs to ensure the security of off-chain transactions, has further enhanced Polygon's ability to process high transaction volumes.

Polygon has also made significant strides in optimizing its consensus mechanisms, moving towards more energy-efficient and less resource-intensive models. This evolution addresses environmental concerns and contributes to the network's scalability and performance.

POL: The next-generation protocol token

POL, the new native token of the Polygon network, is the primary tool for the coordination and growth of the Polygon ecosystem. POL introduces several major benefits, including improved ecosystem security, infinite scalability, ongoing ecosystem support, and community ownership.

One of the key features of POL is its ability to support the continuous growth of the Polygon ecosystem. The introduction of a Community Treasury, funded by POL emissions, provides resources for protocol development, research, grants, and adoption incentives. This self-sustainable mechanism ensures that the Polygon ecosystem has the necessary resources to mature and reach mass adoption.

Seamless Migration from MATIC to POL

The migration from MATIC to POL is designed to be a simple and seamless process. Users holding MATIC on the Polygon PoS network will see their tokens automatically converted to POL at a 1:1 ratio. For those holding MATIC on Ethereum or zkEVM, the Polygon Portal interface provides a straightforward migration process.

Exchanges and wallets are working to ensure a smooth transition for users. Most centralized exchanges will handle the entire migration process, including the automatic conversion of MATIC to POL. This support from the broader ecosystem reflects the importance of the POL migration.

Portal for Migration: https://portal.polygon.technology/

POL's Role in Polygon's Ecosystem

POL plays an important role in securing the Polygon network and rewarding validators. With the introduction of the AggLayer, a scalable multi-chain network, POL will enable seamless cross-chain transactions and enhanced security across multiple Polygon chains. POL holders will also gain governance rights over the Community Treasury, enabling them to participate in decision-making processes that shape the future of the Polygon ecosystem.

Polygon's Use Cases and Real-World Applications

Polygon's practical applications are diverse and far-reaching. In Decentralized Finance (DeFi), Polygon has enabled high-speed, low-cost transactions, making it a preferred platform for many DeFi projects. Its efficiency has encouraged a favorable environment for yield farming and staking, attracting both developers and investors to the ecosystem.

The gaming industry has also benefited from Polygon's scalability and interoperability. By facilitating smooth and efficient in-game transactions and cross-chain asset transfers, Polygon has become a go-to platform for blockchain-based games. Enterprise applications of Polygon are equally noteworthy, with several businesses leveraging Polygon's technology for supply chain management, data verification, and identity management solutions.

How to Buy MATIC Using Trust Wallet

You can buy MATIC using Trust Wallet, via our trusted partners. Here’s how:

• Select “Buy” from the home screen.

If using the mobile app:

• Search for MATIC and select it.

• Choose your preferred currency, then enter the amount of MATIC you want to purchase.

• Select the third-party provider & payment method you’d like to use.

• Select the Buy button and complete the remaining steps.

If using the browser extension:

• Choose your preferred currency and amount, then choose MATIC

• Select your preferred third-party provider.

• Complete the remaining steps.

Conclusion

The migration from MATIC to POL is a significant milestone in Polygon's journey. POL, with its enhanced functionalities and expanded utility, will drive the growth and development of the Polygon ecosystem. As users and developers embrace this transition, the Polygon network is well-positioned to play a pivotal role in shaping the future of blockchain technology.

Disclaimer: Content is for informational purposes and not investment advice. Web3 and crypto come with risk. Please do your own research with respect to interacting with any Web3 applications or crypto assets. View our terms of service.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.