Thread by @stacy_muur

The $MATIC to $POL upgrade is set for September 4th.

Here's what you need to know about the new @0xPolygon chapter ↓

The $MATIC to $POL upgrade goes beyond a simple rebranding to better align with the brand.

First proposed last year in PIP-17, $POL represents an upgrade from $MATIC, driven by Polygon Labs' new vision of an aggregated blockchain network (AggLayer).

Before we move on to the $POL section, let me briefly explain the AggLayer thesis.

The AggLayer offers a new approach to Chain Abstraction, introducing the concept of aggregated chains as a natural evolution from monolithic to modular structures.

The AggLayer:
• Aggregates ZK proofs from all connected chains.
• Ensures near-instant, atomic cross-chain transactions (>1 sec).

As a result, any L1 or L2 chain can be connected to the AggLayer, and for the end user it feels like a single chain with unified liquidity and virtually unlimited scalability.

Now, let's return to $POL.

$POL is essential to support the AggLayer vision as a next-generation token. It accommodates an ecosystem of zk-based L2s by enabling staking, community ownership, and governance.

In other words: $MATIC → one-chain token; $POL → AggLayer token.

The @0xPolygonFdn describes $POL as a "hyperproductive token," meaning:

• Validators can validate multiple chains, i.e., as many chains as they want.
• Each chain can offer multiple roles (and corresponding rewards) to validators.

As a result, $POL will directly impact:

• Ecosystem security (one token to secure many chains, leading to higher demand and staked ratio)
• Enhanced scalability
• A seamless user experience
• Improved governance and community ownership

Initially, $POL will replace $MATIC as the gas and staking token for Polygon PoS. In later phases, the community may choose to expand POL's utility to play a vital role in the AggLayer.

So what actions are required now, with the upcoming upgrade?

Holders of $MATIC on @0xPolygon do not need to take any action. $POL will automatically upgrade to become the native gas and staking token.

However, holders of MATIC on Ethereum, Polygon zkEVM, or CEXes must interact with a migration contract if they wish to upgrade.

You can find a comprehensive explainer on the required actions from various parties on the Polygon blog linked below.

In short, the migration will be straightforward and seamless.

polygon.technology/blog/save-the-…

This recent token upgrade is unique: it's not just about a new ticker or chart. It's crucial for supporting Polygon Labs's aggregation thesis and benefits the entire Polygon community.

Mark your calendar for September 4th and upgrade to $POL, regardless of the blockchain you use.