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Polygon Publishes Proposals Outlining Migration To POL Token and Staking Layer Deployment<\/p>\n
Polygon has published the first set of improvement proposals for its Polygon 2.0 overhaul.<\/p>\n
Announced<\/a> on Sept. 13, the three new Polygon Improvement Proposals (PIPs) focus on the token migration from MATIC to POL, plus the launch of Polygon\u2019s new staking layer.<\/p>\n The PIPs lay out four core steps comprising phase 0, including initiating the token migration, making POL the native gas token for Polygon networks, establishing POL as the staking token of Polygon\u2019s networks, and launching the Polygon 2.0 staking layer.<\/p>\n Polygon said it could roll out phase 0 in Q4 of this year assuming the community demands minimal changes to the proposals.<\/p>\n \u201cThe PIPs published today describe the technical details for Phase 0 of building a network of interconnected zero knowledge-powered L2 chains that scale Ethereum to the size of the Internet,\u201d Polygon said.<\/p>\n Polygon\u2019s MATIC token is up nearly 2% today but down 4% over the past week, according to CoinGecko.<\/p>\n <\/p>\n <\/a><\/p>\n Polygon first announced plans for its 2.0 overhaul<\/a> in June, calling for the unification of Polygon\u2019s various scaling solutions into a multi-chain ecosystem of interconnected networks leveraging zero-knowledge (ZK) technology.<\/p>\n Polygon\u2019s ecosystem currently spans the PoS Chain, zkEVM, Nightfall, and Miden networks. The PoS Chain first launched in 2017 before rebranding in 2021, and is Polygon\u2019s largest network with a total value locked of $792M.<\/p>\n However, the PoS Chain lags in technical capabilities compared to Polygon\u2019s flagship zkEVM<\/a>, which launched in March of this year. The 2.0 roadmap includes merging the PoS Chain and zkEVM, combining the impressive TVL of PoS Chain with the technical capabilities of zkEVM.<\/p>\n In addition, Polygon launched Nightfall<\/a>, a hybrid optimistic-ZK rollup developed in partnership with Ernst & Young, last year. Polygon continues to develop Miden<\/a>, a ZK STARK-based L2.<\/p>\nPolygon\u2019s Scaling Ecosystem<\/h2>\n