POL

Cathie_D_Wood

What’s everyone favorite Layer 2 on ETH for this cycle? ARB, OP, MATIC (Soon to be POL) etc

0x456

Wen MATIC to POL migration?

de_ninja

you can continue holding MATIC as you will always be able to migrate to POL later. No need to worry now. Also the price is always the same. If you hold your MATIC on an exchange, they will migrate for you at some point. If you hold your MATIC on the Polygon PoS network or have it delegated, no need to do anything either, as these will be migrated some time this year. If you just hold it in a wallet on Ethereum, you can swap MATIC to POL on kyberswap for example, they have the migration contract integrated, so you will always get the best price there.

imfrombiz

First, you need an Elon brain chip connected to a blockchain oracle for POL (Proof of Life). Then it's simply if/else smart contract.

genesisutxo

For L1s and L2s connected to AggLayer: Maintain full sovereignty but also get to tap into a huge pool of unified liquidity, making it easy to bootstrap liquidity. For dApp developers: Reach users in aggregate. Even if your dApp is on a different chain, users from other chains will be able to interact with it, without cumbersome bridging UX. Seamless cross-chain transactions mean true growth and access to users of the aggregated network. For end users: UX that is like the Internet. A single environment that doesn’t require cumbersome and frequent bridging. The end result would be cross chain swap finality in under a second. And lastly polygon 2.0 tokenomics is just introducing no cap to supply with a 1% inflation rate to not run the risk of stagnation among other factors. Nothing crazy like dodgecoin inflation or US dollar inflation lol Also better governance will be introduced. I’m sure I’m missing more but this is what stood out to me. Basically POL is meant to be used and not hoarded like I do for BTC because its use case is vastly different. You can say the same about eth and solana as they don’t have a cap but we must always be aware of their respective inflation rate percentage.

jekpopulous2

Fundamentals change because the APY for POL staking will increase dramatically without effecting inflation. The new POL token has native restaking for any chain using their zk CDK / prover. That means when you stake POL you won’t just be earning POL rewards. You’ll also be earning IMX, MANTA, ASTAR, CANTO, OKX, ZKF, etc… all the AggLayer tokens. POL’s staking APY could go from 4% go 40%. I’d say that changes the fundamentals quite a bit.

OverallAd2198

The POL token switch seems like a second ICO cash harvest for Sandeep and Co. I lost all faith in polygon.

0xNLY

Exactly. As the largest market cap of the L2 tokens, POL has the most to gain.

Csalbertcs

So if it's in an exchange like Coinbase Matic will automatically make that switch to POL coin?

na7oul

MATIC/POL. Not particular reason but i like the smooth transactions and the low fees. I also collect RCA and they are also on polygon network.

HSuke

This is why I like Polygon PoS. Great for use and the Discord communities that use it like it when MATIC/POL price stays low.

HSuke

I'm happy with MATIC/POL being cheap. I use Polygon PoS more than every other blockchain combined, and that keeps gas fees cheap. It's a utility token.

HSuke

https://forum.polygon.technology/c/polygon-improvement-proposals/pips/81 Look for the ones related to POL and Polygon 2.0

HSuke

It's already active. You can already use the contract to swap MATIC for POL, but I wouldn't recommend it since most dApps still use MATIC.

na7oul

When POL token will be effective ?

HSuke

It is already migrating to POL, which has 1-2% tail emissions.

HSuke

MATIC is migrating to POL, which has an annual 1-2% inflation for validator rewards and ecosystem support. A good reminder that projects can easily cancel their supply cap once they run out.

BitcoinRefuge

I think you will stake POL to get coins dropped into your wallet because POL will secure multiple new project that will connected across various chains and those coins will be airdropped

Geekitgood

I still don’t understand airdrops lol but yea it would be nice if POL would just stay over $1

danielcota

Deflation-wise: The Protocol Owned Liquidity held by the DAO generates yield in the form of SALT - a default 45% of the SALT rewards received from this POL are burned. Also, expedited unstaking of xSALT results in users losing a portion of their original staked SALT. The lost portion of their SALT is then burned. Me: I'm originally a mobile app developer - who has created and developed in-house mobile apps which have had more than 30 million downloads. In crypto I previously wrote some private arbitrage and trading bots, and also created an NFT project called 200 Keys - the focus of which is collaborative creativity.

BitcoinRefuge

MATIC switching to POL to get declassified as a security. Even without that I m bulish based on how much I use it

vorpalglorp

I don't know about Hackathons, but these are the projects most developers are excited about: New: Ordinals, Runes on Ordinals, SEI, TIA, Eigan Layer, Blast (not out yet) Still going strong: ETH, SOL, AVAX, POL/MATIC On the fence: ADA, ICP Honorable mention: Kaspa. Kaspa has no smart contracts yet, but will absolutely explode when it does. It has the second most active mining community behind bitcoin itself.

Fair_Raccoon9333

Of that group, I'd only hold MATIC. But I'd definitely be reading up on MATIC's conversion to POL so I had a sense of what is happening.

jekpopulous2

ETH and POL will both work as gas on all AggLayer chains. I’m not sure about how it works if AVAX (for example) were to join the network. I think then you could use AVAX for gas anywhere on Polygon but I’m not 100% on that.

StefanPranacotta

Interesting info, I googled it and found opposite Tweets like here : *Also, the maximum supply of POL will be 10 billion, just like MATIC, and the swap will be in a 1:1 ratio.* [*https://twitter.com/wiseadvicesumit/status/1718156770961743984*](https://twitter.com/wiseadvicesumit/status/1718156770961743984) But on Coinmarketcap, POLS actually does not show value on max supply. I'm confused, did I miss newer update ?

OMFGROFLMAO2

Polygon fucked up big moving to POL, they removed max supply and increased total supply, anyone still riding it will get diluted. Don't hold long term.

Dry_Advice_4963

Does anyone know when the MATIC to POL conversion is supposed to occur?

Dry_Advice_4963

Does anyone know when the MATIC to POL migration is supposed to occur?

HSuke

Completely different fundamental purposes: * MATIC/POL is a utility commodity used for gas and for trading. * ARB and OP are governance tokens.

HSuke

Polygon PoS: yes. 80% of the projects I interact with use it. I couldn't care less about the MATIC/POL token, but the sidechain itself it's vital to Ethereum.

MinedMurmansk

Thanks for sharing this. I just migrated to POL :)

suspiciouseverything

Their is a scam POL contract going around even with its own medium. This is the only offical pol contract and link to polygons X.0x455e53CBB86018Ac2B8092FdCd39d8444aFFC3F6 https://twitter.com/0xPolygonLabs/status/1717134336104038580?t=7pUmzE3Falm5pXgvTputNw&s=19

Sumchi

When I made the post, all I had read was one article about the polygon network upgrade in 2023 which created a new token for proof of liquidity called POL. This token WILL replace MATIC over the next 4 years. The article made it clear that self-custody MATIC holders would LOSE MATIC if they didn't convert via smart contract over the next 4 years. People here. Provided documentation that MATIC will continue to be the native token on polygon until the conversion is complete. Also that exchanges will automatically convert the tokens for us. Now I have no more concerns as I do not use self-custody wallets for anything other than transfers.

Reddit_is_now_tiktok

So my existing MATIC will be swapped to the new POL?

Sumchi

POLYGON updated the network creating a new token POL it is exchangeable but useless as of now. They are still using MATIC for smart contracts, transactions and such.

ottermodee

With this change, the gas fees are gonna be a lot cheaper for POL, right?

alterise

You really don’t have to do anything. MATIC will be convertible 4 years or more when the upgrade finally happens. Also, you can be sure almost all major exchanges will do this conversion for you or provide a means to do it for free when that happens. https://polygon.technology/blog/polygon-2-0-tokenomics Polygon PoS still uses matic for gas, staking to secure Polygon PoS also uses matic and until the upgrade, POL is kinda useless. The migration smart contract on ethereum even allows you to reverse the conversion or “unmigrate” as the function is aptly named. POL token: https://etherscan.io/token/0x455e53CBB86018Ac2B8092FdCd39d8444aFFC3F6 Migration contract: https://etherscan.io/address/0x29e7df7b6a1b2b07b731457f499e1696c60e2c4e TLDR: there’s no rush to convert, and POL is kinda pointless until the upgrade.

Sumchi

Thanks I was about to ask if we can even make transactions with POL yet.

HSuke

It's too early to switch. I'd wait another several months. Most smart contracts and dApps still only support MATIC, not POL. If you're converting this early, you're going to end up shooting yourself in the foot.

ftball21

The new token is POL

WiseSilverWolf

Algorand has never failed any transactions, transactions are fast, and it has really low gas fees but the ecosystem kinda sucks. Polygon has a decent ecosystem, fast transactions, affordable gas fees but it has that upcoming migration to POL (Polygon 2.0) that will make it a coin with unlimited inflation and no cap. Ethereum Classic has moderately fast transactions (not too slow, not fast) but I've had alot of transactions get stuck in a "pending" loop and eventually time out or say transaction failed and I still got charged gas fees for failed transactions. Ethereum is notorious for high gas fees that only whales can afford during peak times. Solana is fast and cheap but has been known to have outages before and might be a bit too centralized if an outage can take out the whole blockchain.

MinimalGravitas

> if users are forced to use centralized L2s. Luckily that won't be the case. Rollups and validiums are very centralized at the moment, but all are working towards decentralization as time goes on. It seems almost inevitable that L2 tokens such as ARB, OP and POL will end up being used as collateral for the operation of sequencers and proposers, and rollups like zkSync that don't yet have tokens will surely deploy one and follow this model as well. Fraud proofs will be permissionless, probably even to the point where multiple different clients are available to generate them in the same way that different clients can be used for Ethereum validators. We aren't there yet, but that is where development efforts are focused.

DrinkMoreCodeMore

DOT, POL (matic), ADA, XRP

Powerful-Alarm9394

Thanks for the info although I now believe it’s either an error on the website* or it is like this until the migration from MATIC to POL happens. Either way I filled my bags. *If you go to the website and choose POL, and then look at the indicator “Emission: Token released to circulation within a selected period of time(Your local timezone).” Then choose 1 month and you will see inflation: 21.93% of circulating supply.

TabletopThirteen

The new POL system has an annual inflation rate of 2% per year.1% going to the validators.and 1% to the Treasury. Anything other than that is an individual APY from that protocol. But the actual token will now have a static 2%

Ghola_Mentat

Price action has been comparatively weird. Had that run earlier and we still haven’t come close to that local high. We’re off the local low, but haven’t had much momentum. In terms of fundamentals, some gaming projects have left and gone to AVAX. The switch to POL has been confusing and there has been a lot of scam messaging around it. And honestly, there isn’t too much exciting happening in their DeFi ecosystem. I’m just holding my MATIC as stMATIC and can’t find anything better to do with it.

plasmalightwave

Thoughts on MATIC for this cycle? It does look like they’ve formed so many partnerships. But the conversion to POL is kinda concerning

DrinkMoreCodeMore

Just keep the MATIC (soon to be POL) :)

Striker37

Is MATIC being converted to POL?

benmck90

The whole POL migration thing is confusing to would be investors. Is MATIC getting sunset?

hiredgoon

I recommend reading up on MATIC and POL for yourself.

PJ7

There's plenty of other projects with legitimate use cases, but still almost no one knows about them yet. Their main function for now is within their own systems though, not as speculative assets. But VET, BAT, OPCT, NANO, SC, XRP, XLM, HBAR and MATIC/POL all have legitimate projects with legitimate use cases.

ricozuri

Bullish on MATIC, but not renaming it, “POL”when the token is upgraded to Polyon 2.0.

IKY13

Hello guys, I have been reading abot the necessity of swaping your MATIC for POL by sending them to the new POL contract. The thing is that I can't find where the fuck is this swapping contract. Anyone knows?

Fair_Raccoon9333

It will rival POL, not Matic.

DPSK7878

Quick question guys. Do you need to do anything if you hold MATIC on the polygon network ? In anticipation for the new POL token.

DrinkMoreCodeMore

Add in some DOT, POL (aka MATIC), & XRP.

DrinkMoreCodeMore

I think POL will do very well during the next bull. I keep weekly auto purchases for it just rolling.

unholyfire

Matic->POL transition, I presume.

thelonliestcrowd

POL is the new matic rebranded token. So maybe they are adding the contract and all those tokens to the polygon network and it’s taking up all the bandwidth?

Fiv3OhDeuce

>Why? Because these coins have shown at least 2 cycles or more that they follow the parabolic moves of the market when btc and eth skyrocket. Does this not apply to a multitude of coins? Above that, coins that are more "established" than those that you have mentioned? What about ADA, LINK, POL etc. ?

bigherb33

Good advice! I think BTC and ETH are safe buys, and I am hoping MATIC (POL) will get closer to its ATH of $2.92 and beyond during the next bull-run. My average is at about $0.89 so I am getting closer! It’s all about getting in at a low price point and I am doing that consistently. Hopium is a strong drug..

bigherb33

When are they changing it to POL? And why lol?

spartikle

POL is worth buying because it's a jack-of-all-trades and fits several possible narratives.

ThatChrisGuy7

Love Matic. 2nd bag after BTC. Better get used to calling it POL 😉

MichaelAischmann

MATIC (POL) about to crack $0.8

ThatChrisGuy7

I think Matic will be, especially after it’s 2.0 POL upgrade

inadyttap

What is POL?

ftball21

Do we need to switch MATIC for POL yet?

DrinkMoreCodeMore

DOT, ADA, MATIC (soon to be POL), OP

ThatChrisGuy7

It overcame my Eth the last few months when I read more into the POL 2.0 upgrade

MK2809

Is there going to be a POL token on the Polygon network aswell? As the fees on Ethereum are still higher than most would like.

kirtash93

4 years is a lot of time so it is nice. Enough time to make good tutorials on how to do it in every scenario. For example, staking MATIC, do you need to unstake and convert it to POL or it is done automatically?

Blooberino

I'll just wait for the POL tokens to hit a major exchange and do a sell of MATIC and a buy of POL with the funds. Choosing MATIC as a token name for POLYGON in the first place was pretty dumb, but it's their brand now. I don't know why they're bothering to change.

coinfeeds-bot

tldr; Polygon has deployed new token contracts for its POL token on Ethereum. The POL token will replace the network's current MATIC token, and MATIC holders will have four years to migrate their holdings. The POL token is expected to play a critical role in the network's wider upgrade and will allow users to stake their holdings across multiple compatible chains. Polygon is also planning to move its PoS chain to a zkRollup and introduce a new interoperability standard for its various chains. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DrinkMoreCodeMore

It was originally called Matic Network and then rebranded to Polygon but they kept the ticker of MATIC. I think POL rebranding is a good move. the 1% is used to fund dev stuffs. Seems okay to me.

guitaristnate

BTC and ETH are what the mains should be in your portfolio. If you were to venture outside of this into alts, it would be MATIC (soon to be POL), DOT, and maybe ADA. I’d say not to bother with XRP, but do your own research. Safe bet for alts right now is MATIC. Again, do your own research, but you can’t go wrong sticking to the big two: BTC and ETH.

stockyewok

Yeah I'm gonna wait for matic to change to POL and if that all goes well, I'll buy in

stockyewok

True POL could go either way, I'm hoping up though

photog623

You could swing trade MATIC to POL before dumping your bag. Might be good profits

a14alo

No, I've been holding MATIC for 2-3 years. I've bought some matic just because I'm using polygon ecosystem, adding liquidity on defi, buying selling nfts etc. It is not much, just 3% of my crypto portfolio. Btw, they're going to update the network and launch another token (POL) in the future, you should check it out before investing: [https://polygon.technology/blog/polygon-2-0-tokenomics](https://polygon.technology/blog/polygon-2-0-tokenomics). The network was great because it was too cheap and fast. It is still cheap but sometimes my transactions are failing, it is not stable nowadays.

DBRiMatt

Just a heads up though, MATIC staking is done via Ethereum network - so it's probably not worth it if you only have a small amount due to ETH gas fees. I wonder if this will change in the future when the upgrade to POL takes place

Omnomnomnivor3

It's gonna be POL with their zkrollup update so I'm gonna say hopefully it does a 3-4x in the bullrun

iwishiremember

You mean POL.

DBRiMatt

We're gonna have to get used to calling it POL by next bull run!

stockyewok

I reckon that'll go well this bullrun, although it'll be POL by then

stockyewok

I never knew it was GON tbh, but yeah Matic is changing to POL by the end of the year

StygianFuhrer

Really? It’s gone from GON to MATIC to POL?

Omnomnomnivor3

Same sentiment, excited for the POL coin!

Omnomnomnivor3

Well if I was to tag the cons is that despite the tech there aren't actually much dapps going on there Other than that, the transition to zkrollup MATIC to POL will be something to look forward to

OisinT

I have an ongoing long position open on MATIC and I have zero idea what to do about it. If MATIC to POL is 1:1 then in theory the price should move in tandem in theory... That's my hope at least.

stockyewok

It'll be POL soon

Pitiful-Scar-2246

I think POL will have an infinite supply.

iwishiremember

Is 93% of MATIC in circulation already (from 10 billion)? Will the new POL token be also capped or uncapped?

simplicity92

Yea. Looks like im need some matic in my life, or should i say POL. I still have ONE and ROSE hanging around probably gonna swap them out.

Blooberino

On polygon lol. Maybe that's why they're rebranding it to POL.

nacockerspaniel

Will matic still be relevant with POL?

Omnomnomnivor3

If Arb or OP manages their coins and ecosystem properly yeah I'm most bullish for MATIC and I believe it's gonna get bigger when they transition to POL with zkrollup tech

DBRiMatt

I've been accumulating MATIC Gonna have to get used to calling it POL some day

stockyewok

POL by the next bullrun😁👍