- POL will replace MATIC for gas fees and staking, marking a new era for Polygon’s blockchain network.
- The upgrade introduces a 2% annual emissions model to fund community initiatives and network growth.
The upgrade involves replacing MATIC with POL as the primary token used for gas fees and staking on the Polygon Proof-of-Stake (PoS) network. This change signifies the beginning of a new phase for Polygon, aiming to enhance its blockchain capabilities and support further expansion.
The upgrade will be implemented in phases, with the initial focus on integrating POL into the network. Over time, the Polygon community will have the opportunity to vote on extending POL’s use, potentially incorporating it into the AggLayer, which could further broaden its utility.
POL introduces a unique approach to sustainable growth with a 2% annual emissions model, specifically designed to power the community grants program with 1 BILLION POL over 10 years.
Fueling the future of Polygon as an aggregated blockchain network ⛽️🧵 pic.twitter.com/qSUxe0dxz4
— Polygon | Aggregated (@0xPolygon) September 3, 2024
A key feature of POL is its 2% annual emissions model. This model is designed to support sustainable growth and funding for community initiatives. Over the next decade, one billion POL will be distributed to support the community awards program. The emissions will be divided into two main categories: validator rewards and community treasury.
Validator rewards will allocate 1% of the total POL supply to incentivize network validators and enhance security. The remaining 1% will be designated for the Community Treasury, managed by the Polygon community. This fund will support various initiatives, including protocol development, research, and ecosystem expansion.
The 2% annual emissions rate for POL is intended to provide long-term support for the network’s growth and innovation. The community has the authority to adjust or discontinue the emissions rate as needed, ensuring flexibility in response to evolving requirements.
This approach underscores Polygon’s commitment to maintaining a robust and adaptive network infrastructure.
The transition from MATIC to POL represents a strategic step forward for Polygon, aiming to bolster its position as a leading blockchain network and drive continued development in the crypto space.
The current price of Polygon (MATIC) is approximately $0.4109 USD, reflecting an increase of 1.84% over the past 24 hours. Today’s trading range has been between $0.4009 and $0.4142 USD.
Over the last 52 weeks, the price of MATIC has fluctuated between $0.3390 and $1.2872 USD. The market capitalization of Polygon stands at $4.097 billion, with a 24-hour trading volume of around $208.56 million.
Polygon’s 2024 Price Projections: Potential Gains Amidst Crypto Market Fluctuations
The price analysis for Polygon (MATIC) in 2024 suggests a bullish outlook, with projections indicating potential growth in MATIC’s value.
The highest predicted price for MATIC by year-end is $2.61, with an average expected trading price around $1.97, assuming a stable and bullish crypto market environment. The lowest price projection for MATIC is $1.26, contingent upon bearish market events negatively
