The Polygon community started the transition of its token native MATIC to POL, inside the framework of its roadmap Polygon 2.0. This replace brings with it implications, resembling small modifications within the tokenomics and performance of its cryptocurrency. To any extent further, Polygon’s native foreign money may have an inflation price of two% per yr.
This occasion introduced the annual inflation price of two% Which means 200 million will likely be issued. tokens POL yearly. The brand new inflationary construction is deliberate to final for the subsequent ten years. The rise within the provide of token Native is designed to make sure longer incentives for community validators, who play an important position within the well being and decentralization of Polygon by means of the staking.
This course of makes the blockchain safer by making it tough to interact in malicious habits, providing extra POL as a reward. On this means, extra customers could be enticed to take part locally and block their POL inside the community as collateral to validate transactions and preserve Polygon operational.
1% per yr of the staking provide
The brand new distribution scheme allocates 1% of the POL issued yearly as a reward for validators who take part within the stakingThe opposite 1% goes to the group treasury, a fund managed by the Polygon group that goals to assist the event, enlargement, and self-governance of the ecosystem.
For its half, POL is the brand new token used within the Polygon PoS (Proof of Stake) community, changing MATIC. This improve signifies that capabilities beforehand carried out by MATIC, resembling fee of transaction charges and stakingwill now be carried out identically by POL.
Finally, the transition, the corporate mentioned, was completed mechanically on the Polygon community on September 4; these customers who maintain MATIC on Ethereum should make the transition manually by means of the portal provided by Polygon.
How did the Polygon group reply to the migration from MATIC to POL?
As CriptoNoticias reported days in the past, the Polygon group appears to have adopted a distant and considerate or apathetic stance concerning this occasion.
Taking metrics on-chain From the Develop the Pie web site, low ranges of lively addresses, variety of transactions and market capitalization of Polygon have been detected previous to the replace
This stagnation continued all through 2024 and continues in the present day, and Polygon’s replace has but to discover a optimistic response from its group.
