Polygon Labs founder Sandeep Nailwal says Polygon’s (MATIC) upcoming improve will remodel its native asset right into a “third-generation token.”
The Polygon group is at present mulling a technical proposal that may improve the mission’s native MATIC token and rename it to POL.
The proposal is a part of the community’s transition to Polygon 2.0, which goals to ascertain the mission because the “worth layer of the web.”
Explains Nailwal on the social media platform X,
“POL delivers the advantages of multi-chain staking with out the added dangers of restaking. With the Polygon 2.0 proposal, the Polygon Ecosystem will increase from a single chain to an ecosystem of L2s (layer-2s) that may simply interoperate and share liquidity with one another.”
Nailwal says customers will be capable to re-stake the POL token to validate any variety of chains on the community, an enchancment he calls “enshrined staking.”
“POL is an innovation on restaking in two dimensions:
1) Enshrined restaking absolutely avoids reliance on trusted third events, creating fewer vectors of centralization
2) POL can be utilized for extra than simply securing chains; it might additionally safe Agg (aggregation) layer, DACs (decentralized autonomous companies), and extra
POL is designed from the bottom as much as be the primary hyperproductive token — a 3rd technology in token design.
- Era 1: BTC (no method for the holder to take part in securing the community)
- Era 2: ETH (holders can stake to safe the community)
- Era 3: POL (holders can safe a number of networks and might play a number of roles)”
POL and MATIC is not going to co-exist if the proposed technical improve will get accredited and applied. MATIC holders could have their tokens upgraded at a 1:1 ratio.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Verify Price Action
Observe us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses chances are you’ll incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney
