L2 Scaling Solution Polygon Rolls Out POL Smart Contract on Ethereum Mainnet
Polygon Labs, makers of the Polygon network, has announced the rollout of its much anticipated POL smart contract token on the Ethereum mainnet.
The Polygon team shared this exciting development on X (formerly Twitter), explaining that the new token upgrade is intended to replace the age-old MATIC token as an ecosystem asset.
The POL token upgrade is now live on Ethereum mainnet.
Polygon 2.0, released this summer, is a roadmap for scaling Ethereum to build the Value Layer of the Internet. POL unlocks that future.
POL is a next-generation token that can power a vast ecosystem of ZK-based L2 chains.… pic.twitter.com/gmrsu0ZqLz
— Polygon (Labs) (@0xPolygonLabs) October 25, 2023
On-chain data on the Etherscan platform shows that POL was deployed on October 25 at approximately 09:06 AM (UTC).
POL (Polygon Ecosystem Token) was launched on the Ethereum network at block height 18426253 following 2,620 block confirmations.
Providing an underlying context for retiring the MATIC token, the Polygon team said POL is a key player in its drive for the future of Polygon 2.0.
Polygon 2.0 is the layer-2 scaling solution’s next step toward unlocking the full potential of both the Ethereum and Polygon blockchain protocols.
The Polygon network first informed the world of its intentions to develop a Polygon 2.0 architecture on June 12.
In the X post, Polygon stated that this new frontier would provide unlimited scalability and unified liquidity in a bid to transform Polygon into a value layer of the internet.
1/ Today, we are excited to propose the Polygon 2.0 architecture, designed to provide unlimited scalability and unified liquidity, thus transforming Polygon into the Value Layer of the Internet!
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