As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About CryptoGmblr.com
Contains commercial content
Cryptogambling / Polygon introduces POL token on Ethereum mainnet

Polygon introduces POL token on Ethereum mainnet

Publish Date: 26/10/2023
w 4, tags: polygon pol token ethereum - images.unsplash.com

w 4 – images.unsplash.com

Polygon has announced a new token contract for its POL token on the Ethereum mainnet. This launch is part of its updated roadmap and ecosystem, aiming to replace the MATIC token with POL.

“The POL token upgrade is now live on Ethereum mainnet. Polygon 2.0, released this summer, is a roadmap for scaling Ethereum to build the Value Layer of the Internet. POL unlocks that future,” said Polygon in a social media post.

POL is set to fuel a broad ecosystem of zero-knowledge-based Layer 2 chains. Its launch marks the beginning of various aspects of the Polygon 2.0 roadmap, including the development of a shared liquidity protocol across all Polygon networks, the establishment of a new staking layer for the Polygon community, and the upgrade of the current Proof of Stake (PoS) network to zkEVM layer 2.

The Polygon team explained that Polygon networks had not started using the POL token. Currently, the Polygon community continues utilizing the MATIC token for staking on Polygon PoS, Polygon zkEVM and covering gas fees on the PoS network. The Polygon team clarified that app developers, validators and users are not required to exchange their MATIC for POL at this time.

Following POL’s launch, MATIC’s price dropped by four percent to $0.62, and its market capitalization decreased to $5.8 billion, according to CoinMarketCap data.

Polygon Labs, the company behind Polygon, introduced POL in June 2023 as part of the Polygon 2.0 plan. Polygon Labs asserted that the shift from MATIC to POL is unrelated to recent regulatory developments, such as the U.S. Securities and Exchange Commission’s classification of MATIC and other tokens as securities in lawsuits against Binance and Coinbase.

POL brings advantages to Polygon ecosystem

Polygon maintains that POL introduces several benefits to the Polygon ecosystem. It enhances security by leveraging a highly decentralized pool of PoS validators who bring security, resilience and impartiality to all Polygon chains while incentivizing them to secure multiple chains.

POL offers infinite scalability, enabling exponential growth and mainstream adoption of the Polygon ecosystem. This scalability ensures the validator pool can expand to support thousands of Polygon chains without compromising security.

POL provides sustainable, in-protocol support for the evolving Polygon ecosystem and the wider industry, which is still in its early phases. It eliminates the friction often associated with blockchain protocols, as users and developers are not required to hold, stake or consume native tokens.

ETH sees biggest drop since 2015

On Wednesday, on-chain data aggregator Santiment revealed a notable decrease in the quantity of ETH available on exchanges, the biggest since 2015.

“#Ethereum has fared well during this market-wide #crypto surge. Prices crossed $1,850 for the first time since August 15th, and the now 8.41% of $ETH supply on exchanges is the lowest since #genesis in 2015. Whale transactions also hit a 6-month high,” said Santiment in an X post.

Massive ETH withdrawals happened as the token exceeded the $1,850 price point. Ethereum’s price had previously gone up by more than 12 percent since Sunday, possibly because of growing excitement about Bitcoin. According to Santiment data, new big investors had bought $98.06 million worth of Ethereum.

Top Online Casinos
Top Casinos Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
7.500 Gold Coins + 2,5 Sweepstakes Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 70,000 Lucky Coins and 44 Sweeps Coins
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75M WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5
Latest News
Charles Hoskinson forecasts Altcoin season showdown: ADA vs. DOGE
Cardano (ADA) Faces Dual Meme Coin Competition where ...
Top 5 AI cryptocurrencies ready to thrive during the next bull market
New crypto ventures merge the groundbreaking capabilities of ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
7.500 Gold Coins + 2,5 Sweepstakes Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 70,000 Lucky Coins and 44 Sweeps Coins
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75M WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPGCloudflareSSLco² neutral
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Go to Stake.us
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: CRYPTGAMBL
  • Play Stake Originals games for free
  • Get free Stake Cash daily just by logging in
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site