- Polygon upgraded its native POL token to enhance Ethereum scalability.
- The upgrade introduces a re-staking protocol for multiple chain validation.
- POL serves as the core token for Polygon’s multi-chain ecosystem.
Blockchain platform Polygon has implemented a major upgrade to its native POL token, unlocking new staking features designed to scale Ethereum for mainstream adoption.
According to an announcement from Polygon Labs, the upgraded POL token is now live on the Ethereum mainnet. This milestone caps months of development and testing on Polygon’s shift to become the backbone for Web3.
Polygon’s POL introduces re-staking protocol
The new POL introduces a re-staking protocol that enables token holders to validate multiple chains and take on various roles on each chain. This makes POL a highly productive token capable of securing a vast array of ZK-rollup-based Layer 2 networks.
Polygon aims to build the “Value Layer of the Internet” by scaling Ethereum for global decentralized app adoption. POL will serve as the core token coordinating Polygon’s multi-chain ecosystem as usage expands.
The upgrade was enacted after extensive planning and simulation on testnets to ensure a smooth transition. Polygon says its community provided crucial input during the consultation process.
As Ethereum congestion persists, Polygon is positioning itself as the go-to scaling solution through innovations like POL. The pliable token model aims to sustainably secure arbitrarily complex Layer 2 chains demanded by Web3 growth.
With POL’s supercharged staking features unlocking new possibilities, Polygon appears determined to push decentralized technology into the internet’s next era. The token revamp ushers in the next phase of its evolution as the self-proclaimed “Ethereum’s Internet of Blockchains.”
