The Polygon team offers to update their MATIC token

Polygon, which develops L2 solutions for Ethereum, has made an offer to upgrade its MATIC coin to a multi-purpose format. With the help of it, it will be fashionable to check several chains at once.

What is known about the initiative

The technical update of the coin must be approved by the crypto community. At the same time, if the procedure is approved, the token will be renamed to POL.

The announcement was published by Cointelegraph. It says that the POL utility will be able to cover absolutely all protocols of the crypto network. This will affect staking, zkEVM and Supernets. The announcement also indicates that in this way the pool of protocol participants will be able to scale. It will allow you to support thousands of chains of the crypto network, while not losing a high level of security.

The benefits of the upgraded coin mainly concern validators. The goal is to coordinate and stimulate them so that they can do useful work. If the initiative is approved, it will be possible to infinitely scale the protocol, and conflicts between protocols will be eliminated.

Validators in staking will be able to receive 3 types of remuneration: for the work of the protocol, commission fees and additional rewards. At the same time, they can perform several functions in the chain at once: generate zero-disclosure proof and participate in data availability committees.

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