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POL Contracts Go Live on Ethereum Mainnet as Part of Polygon 2.0
POL token will power every blockchain that runs atop the Polygon network.
Updated Oct 25, 2023, 11:00 a.m. Published Oct 25, 2023, 11:00 a.m.
Smart contracts of the upcoming POL token went live on the Ethereum mainnet as the Polygon blockchain gears for a shift towards its ‘2.0’ plan, developers shared in a release to CoinDesk on Wednesday.
A group of Polygon founders and researchers previously proposed a token upgrade that would replace the network’s MATIC token with POL in a move that lets POL function as a single token for all Polygon-based networks.
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These networks include the main Polygon blockchain, the Polygon zkEVM network, and various supernets – application-specific blockchains that run atop the main Polygon network.
The upgrade to POL from MATIC requires a simple technical action – sending MATIC to the upgrade smart contract, automatically returning the equivalent amount of POL.
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