Polygon Labs founder expresses belief in upcoming upgrade of MATIC token

One sentence summary – Polygon Labs founder, Sandeep Nailwal, believes that the upcoming upgrade of Polygon’s native asset, MATIC, will transform it into a “third-generation token,” as the Polygon community considers a proposal to upgrade the token to POL as part of the transition to Polygon 2.0, aiming to position the project as the “value layer of the internet” and increase decentralization through enshrined staking, while also reflecting Polygon’s commitment to innovation and ambition to become a leading player in the blockchain technology landscape.

At a glance

  • Polygon Labs founder believes the upgrade of MATIC will transform it into a “third-generation token”
  • Polygon community considering a proposal to upgrade the MATIC token
  • Upgrade would rename the token to POL as part of the transition to Polygon 2.0
  • Upgrade introduces “enshrined staking” concept to increase decentralization
  • POL could be used to secure chains, aggregation layers, and decentralized autonomous corporations

The details

Polygon Labs founder, Sandeep Nailwal, has expressed his belief that the upcoming upgrade of Polygon’s native asset, MATIC, will transform it into a “third-generation token.”

The Polygon community is currently considering a proposal to upgrade the MATIC token.

As part of this upgrade, the token would be renamed to POL.

This is part of the transition to Polygon 2.0.

Polygon 2.0’s main goal is to position the project as the “value layer of the internet.”

The proposed upgrade would introduce a new concept known as “enshrined staking.”

This would allow users to re-stake the POL token to validate multiple chains on the network.

The aim of this approach is to increase decentralization and reduce dependence on trusted third parties.

In addition to securing chains, POL could also be used to secure aggregation layers and decentralized autonomous corporations.

If the proposed upgrade is approved and implemented, POL and MATIC will no longer co-exist.

Instead, MATIC holders will have their tokens upgraded at a 1:1 ratio during the transition.

This upgrade is intended to pave the way for a more versatile and improved token ecosystem.

By transitioning to Polygon 2.0 and introducing POL, Polygon hopes to strengthen its position as a leading blockchain network.

This network offers comprehensive and secure solutions for a variety of digital assets and decentralized applications.

The proposed upgrade reflects Polygon’s commitment to innovation.

It also shows the company’s ambition to become a leading player in the evolving blockchain technology landscape.

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dailyhodl.com
– Polygon Labs founder Sandeep Nailwal believes that the upcoming upgrade of Polygon’s native asset, MATIC, will transform it into a “third-generation token.

– The Polygon community is considering a proposal to upgrade the MATIC token and rename it to POL as part of the transition to Polygon 2.0.
The goal of Polygon 2.0 is to establish the project as the “value layer of the internet.

– The proposed upgrade would allow users to re-stake the POL token to validate multiple chains on the network, a concept called “enshrined staking.

– POL is designed to avoid reliance on trusted third parties, reducing centralization, and can be used to secure not only chains but also aggregation layers and decentralized autonomous corporations.
If the proposed upgrade is approved and implemented, POL and MATIC will not co-exist, and MATIC holders will have their tokens upgraded at a 1:1 ratio.

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