Three weeks after releasing the Polygon Improvement Proposal (PIP-17) outlining POL—the upgraded token for Polygon 2.0—the contracts are now live on the Goerli testnet. This milestone coincides with two new proposals addressing adjustments to MATIC’s native token burning mechanism, critical for upcoming upgrades.
POL: The Next Evolution of MATIC
POL represents a foundational shift from MATIC, designed to support an ecosystem of zero-knowledge (ZK) Layer 2 chains by enabling:
- Staking across multiple chains
- Community governance
- Shared security
As detailed in PIP-17, POL’s testnet deployment marks a community-endorsed step toward realizing Polygon 2.0—a vision to scale Ethereum to "Internet-level" capacity.
👉 Explore how POL redefines multi-chain staking
Key Proposals: PIP-19, PIP-24, and PIP-25
- PIP-19: Proposes adopting POL as the native gas and staking token for Polygon PoS, replacing MATIC.
- PIP-24: Recommends updates to the EIP-1559 burn mechanism, including modifying the burn recipient address on Polygon PoS.
- PIP-25: Ensures a 1:1 supply ratio between burnt MATIC and newly minted POL, maintaining economic consistency.
Since EIP-1559’s implementation in 2022, over 20 million MATIC has been burned. These changes ensure seamless integration with Polygon 2.0’s Phase 0 (Frontier) outlined in PIP-18.
What’s Next?
- Community Governance: Deliberations continue on the Polygon Forum.
- Roadmap Tracking: Follow progress via the Polygon 2.0 roadmap.
FAQ
1. Do MATIC holders need to take action?
No. This testnet release is part of standard security checks. Monitor official channels for updates.
2. What should node operators/stakers do?
Review PIPs and await future software versions. Provide feedback on the forum.
3. Are there breaking changes for developers?
Unlikely. Test POL integrations on Goerli and audit smart contracts for compatibility.
👉 Join the Polygon 2.0 discussion
Keywords: Polygon 2.0, POL token, MATIC upgrade, EIP-1559, PIP-19, zkEVM, Layer 2 chains
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