Introduction
On September 4th, 2024, Polygon will transition from MATIC to POL, marking a major upgrade for its ecosystem. This guide covers the conversion process, tokenomics, and technical insights to help users navigate the migration seamlessly.
Key Details of the POL Upgrade
- Migration Date: September 4th, 2024.
- Conversion Ratio: 1 MATIC = 1 POL.
- Total Supply: 10 billion (mirroring MATIC).
Annual Emissions:
- 1% for staking rewards.
- 1% for community treasury.
- Official Portal: POL Upgrade Portal.
Source: Polygon Announcement
Understanding Polygon’s AggLayer
The AggLayer is designed to unify Polygon’s multichain network, enabling:
- Shared liquidity across connected chains.
- Instant cross-chain transactions.
- Simplified bridging to Ethereum L1.
- ZK-proof integration via Polygon’s CDK and zkEVM prover kit.
👉 Learn more about AggLayer’s impact
POL Tokenomics and Features
- Shared Security: Validators secure multiple chains.
- Enhanced Roles: Validators can earn rewards via ZK proofs or data committees.
- Community Treasury: Funds development and grants.
- Governance Rights: POL holders vote on treasury allocations.
Migration Steps
For MATIC Holders on Polygon PoS
- No action required—automatic conversion on September 4th, 2024.
For MATIC on Ethereum/Polygon zkEVM
- Use the migration contract.
- No deadline, but future community decisions may apply.
👉 Pro Tip: Avoid third-party migration services—stick to official links.
For Exchange Users
- Most platforms (e.g., Binance, Coinbase) will handle conversions automatically.
- Confirm with your exchange for specifics.
FAQs
1. Is there a deadline to migrate MATIC to POL?
No immediate deadline, but monitor official announcements post-September 2024.
2. Will POL’s value differ from MATIC?
The 1:1 ratio ensures parity, but market dynamics may influence prices post-launch.
3. How does AggLayer improve scalability?
By pooling liquidity and enabling cross-chain transactions with minimal latency.
Security Reminders
- Wait 24 hours before using migration links to avoid potential hacks.
- Verify announcements across Twitter, Telegram, and Discord.