Question 1

What is Polygon Ecosystem Token (POL)?

Accepted Answer

The Polygon Ecosystem Token (POL) is the new native token for the Polygon network, introduced as part of the broader Polygon 2.0 upgrade. POL is designed to replace the existing MATIC token and expand its utility across a more complex and scalable Polygon ecosystem. Unlike MATIC, which had a capped supply, POL is an inflationary token with an annual issuance rate of 2%. This inflation is intended to support the expanded roles that POL will play within the ecosystem, such as securing multiple chains and participating in various governance and staking activities.

Question 2

What is Polygon Ecosystem Token (POL) used for?

Accepted Answer

POL is intended to serve as the central token for all operations within the Polygon ecosystem. Initially, POL will replace MATIC as the gas and staking token on the Polygon Proof-of-Stake (PoS) network. Beyond this, its utility is set to expand as the Polygon 2.0 vision unfolds. POL will be used for staking across multiple chains within the Polygon network, providing validation and security for these chains. Validators who stake POL will also be able to participate in zero-knowledge proof generation and other roles, such as involvement in Data Availability Committees (DACs). This broad utility positions POL as a "hyperproductive" asset that fuels the entire Polygon ecosystem, aiming to enhance security and scalability.

Question 3

Who created Polygon Ecosystem Token (POL)?

Accepted Answer

The POL token is a product of the Polygon development team and its community. The initiative is part of the broader Polygon 2.0 upgrade and reflects the collective input from the community through a series of Polygon Improvement Proposals (PIPs). Polygon co-founder Sandeep Nailwal has played a significant role in the evolution of the ecosystem, overseeing the transition from MATIC to POL. Nailwal and the development team aim to position POL as a critical component of a multi-chain future for Polygon, aligning with the project's long-term vision for scalability and interoperability.

Question 4

What does the migration from MATIC to POL involve?

Accepted Answer

The migration from MATIC to POL, set to begin on September 4, 2024, marks a significant transition in the Polygon network. This process is part of the broader Polygon 2.0 upgrade, which aims to create an aggregated blockchain ecosystem with enhanced scalability and security.

Question 5

Key Changes:

Accepted Answer

- **Token Replacement**: POL will replace MATIC as the native gas and staking token on the Polygon PoS network.
- **Inflationary Model**: POL introduces a 2% annual inflation rate, compared to MATIC's capped supply, to support its expanded utility across multiple chains.
- **Expanded Utility**: POL's utility will extend beyond simple staking and governance to include roles like zero-knowledge proof generation and participation in DACs.

Question 6

Migration Process:

Accepted Answer

- **Polygon PoS Holders**: Users holding MATIC on the Polygon PoS network will have their tokens automatically upgraded to POL without needing to take any action.
- **Ethereum and zkEVM Holders**: Users holding MATIC on Ethereum or Polygon zkEVM may need to manually migrate their tokens via smart contracts or decentralised exchanges.
- **Centralised Exchange Holders**: The migration process for users holding MATIC on centralised exchanges will depend on the specific exchange's guidelines, but it is likely that no action will be required from the user.

Question 7

# No Deadline for Migration:

Accepted Answer

While the upgrade is scheduled to start in September 2024, there is no immediate deadline for MATIC holders to migrate their tokens, allowing for flexibility in the transition.

Question 8

Impact on the Ecosystem:

Accepted Answer

The introduction of POL is a key step in realising the vision of Polygon 2.0, which includes scaling Ethereum by horizontally connecting multiple chains. POL will play a crucial role in this by enabling more robust security and greater decentralisation across the network.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	POL-USDT POLUSDT	binance	AA	0.09300USDT	3.51%	37,558,766.60POL	52,467	0.08985USDT	0.09362USDT
2	POL-USDT POL_USDT	whitebit	BB	0.09294USDT	3.45%	17,443,176.20POL	14,956	0.08984USDT	0.09359USDT
3	POL-USDT POL-USDT	okex	A	0.09296USDT	3.50%	13,152,178.40POL	19,917	0.08982USDT	0.09359USDT
4	POL-USDT POLUSDT	bybit	A	0.09297USDT	3.45%	7,546,704.40POL	10,524	0.08987USDT	0.09360USDT
5	POL-USD POL-USD	coinbase	AA	0.09280USD	3.35%	5,830,070.11POL	3,041	0.08979USD	0.09353USD
6	POL-WBT POL_WBT	whitebit	BB	0.001161WBT	2.29%	4,859,286.90POL	1,168	0.001135WBT	0.001162WBT
7	POL-USD POLUSD	kraken	AA	0.09286USD	3.43%	2,866,712.25POL	1,385	0.08978USD	0.09344USD
8	POL-TRY POL_TRY	whitebit	BB	4.59TRY	3.20%	2,181,759.50POL	624	4.44TRY	4.64TRY
9	POL-USDC POLUSDC	binance	AA	0.09280USDC	3.34%	1,853,555.00POL	1,744	0.08980USDC	0.09351USDC
10	POL-USDT POL-USDT	kucoin	BB	0.09300USDT	3.45%	1,967,727.66POL	1,537	0.08990USDT	0.09350USDT
11	POL-USDT POLUSDT_SPBL	bitget	BB	0.09300USDT	3.53%	1,680,134.11POL	2,983	0.08983USDT	0.09365USDT
12	POL-USDC POL_USDC	whitebit	BB	0.09282USDC	3.49%	1,215,554.20POL	467	0.08969USDC	0.09340USDC
13	POL-EUR POLEUR	kraken	AA	0.08270EUR	3.45%	1,002,330.67POL	412	0.07994EUR	0.08330EUR
14	POL-BTC POL_BTC	whitebit	BB	0.0₅1130BTC	1.80%	970,644.90POL	205	0.0₅1110BTC	0.0₅1133BTC
15	POL-EUR POL_EUR	whitebit	BB	0.08270EUR	3.14%	913,845.90POL	343	0.08018EUR	0.08335EUR
16	POL-TRY POLTRY	binance	AA	4.59TRY	3.17%	802,341.50POL	423	4.45TRY	5.00TRY
17	POL-EUR POLEUR	binance	AA	0.08252EUR	3.32%	698,995.30POL	389	0.07987EUR	0.08261EUR
18	POL-USDT POL_USDT	gateio	A	0.09289USDT	3.23%	644,321.00POL	1,439	0.08998USDT	0.09367USDT
19	POL-USD POL_USD	whitebit	BB	0.09269USD	3.21%	554,428.20POL	206	0.08981USD	0.09346USD
20	POL-HKD POLHKD	oslhongkong	A	0.7287HKD	3.39%	528,297.40POL	2,824	0.7048HKD	0.7336HKD
21	POL-IDR POLIDR	binance	AA	1,653.00IDR	2.48%	472,208.10POL	1,503	1,613.00IDR	1,680.00IDR
22	POL-JPY POLJPY	binance	AA	14.70JPY	3.16%	322,344.90POL	202	14.25JPY	14.79JPY
23	POL-USD POL_USD	cryptodotcom	AA	0.09287USD	3.46%	317,051.00POL	6,125	0.08976USD	0.09349USD
24	POL-USD polusd	bitstamp	AA	0.09279USD	3.50%	272,183.84POL	86	0.08965USD	0.09321USD
25	POL-BRL POLBRL	binance	AA	0.4711BRL	2.84%	233,174.50POL	411	0.4581BRL	0.4728BRL
26	POL-USD POLUSD	hashkey	A	0.09280USD	3.34%	176,161.40POL	613	0.08980USD	0.09330USD
27	POL-USDC POLUSDC	bullish	AA	0.09280USDC	3.00%	165,899.46POL	9	0.09010USDC	0.09280USDC
28	POL-USDC POL-USDC	okex	A	0.09251USDC	2.95%	128,597.13POL	181	0.08986USDC	0.09345USDC
29	POL-BNB POLBNB	binance	AA	0.0₃1276BNB	1.03%	86,139.40POL	103	0.0₃1264BNB	0.0₃1284BNB
30	POL-EUR POL-EUR	okex	A	0.08300EUR	3.70%	71,173.53POL	98	0.08004EUR	0.08333EUR
31	POL-FDUSD POLFDUSD	binance	AA	0.09316FDUSD	3.00%	60,416.90POL	111	0.09045FDUSD	0.09372FDUSD
32	POL-USDT POL_USDT	cryptodotcom	AA	0.09301USDT	3.33%	60,311.00POL	4,217	0.09001USDT	0.09358USDT
33	POL-EUR poleur	bitstamp	AA	0.08169EUR	2.34%	32,694.88POL	25	0.07982EUR	0.08254EUR
34	POL-USD polusd	gemini	A	0.09074USD	1.48%	25,030.72POL	30	0.08942USD	0.09241USD
35	POL-USD POLUSD	bitfinex	BB	0.09306USD	3.48%	21,779.93POL	253	0.08993USD	0.09347USD
36	POL-USDT POLUST	bitfinex	BB	0.09288USDT	3.45%	16,893.75POL	256	0.08978USDT	0.09320USDT
37	POL-USD POLUSD	cexio	BB	0.09250USD	0.01%	4,697.78POL	9	0.09249USD	0.09314USD
38	POL-TRY POL-TRY	okex	A	4.55TRY	1.91%	4,191.39POL	10	4.46TRY	4.59TRY
39	POL-USDC POLUSDC	bybit	A	0.09296USDC	3.13%	3,913.70POL	26	0.09014USDC	0.09310USDC
40	POL-USDC POLUSDC	cexio	BB	0.09281USDC	0.76%	511.04POL	2	0.09211USDC	0.09281USDC
41	POL-USDT POLUSDT	cexio	BB	0.09317USDT	0.74%	303.43POL	1	0.09249USDT	0.09317USDT
42	POL-GBP POLGBP	cexio	BB	0.06888GBP	0.18%	303.43POL	1	0.06876GBP	0.06888GBP
43	POL-EUR POLEUR	cexio	BB	0.08314EUR	1.30%	207.61POL	1	0.08207EUR	0.08314EUR
44	POL-USDT POL_USDT	coinw	-	0.09297USDT	3.50%	18,157,769.32POL	7,781	0.08983USDT	0.09359USDT
45	POL-USDT POL_USDT	poloniex	C	0.09293USDT	3.47%	14,924,944.16POL	48,508	0.08981USDT	0.09363USDT
46	POL-USDT POLUSDT	toobit	C	0.09297USDT	3.47%	11,828,103.70POL	20,558	0.08985USDT	0.09361USDT
47	POL-USDT pol_usdt	lbank	C	0.09297USDT	3.45%	10,208,422.20POL	12,401	0.08987USDT	0.09359USDT
48	POL-USDT POLUSDT	bitrue	D	0.09290USDT	3.34%	8,061,345.40POL	41,563	0.08990USDT	0.09370USDT
49	POL-KRW KRW-POL	upbit	B	125.00KRW	2.46%	7,932,417.97POL	1,105	122.00KRW	126.00KRW
50	POL-USDT pol_usdt	xtpub	-	0.09295USDT	3.46%	7,522,492.40POL	11,475	0.08984USDT	0.09358USDT