{"id":368018,"date":"2023-10-25T14:38:01","date_gmt":"2023-10-25T13:38:01","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=368018"},"modified":"2023-10-25T14:38:01","modified_gmt":"2023-10-25T13:38:01","slug":"matic-falls-5-as-polygon-labs-activates-next-gen-pol-token-on-ethereum-mainnet","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/matic-falls-5-as-polygon-labs-activates-next-gen-pol-token-on-ethereum-mainnet\/","title":{"rendered":"MATIC falls 5% as Polygon Labs activates next-gen POL token on Ethereum mainnet"},"content":{"rendered":"<p>Polygon Labs has deployed the contract for its new POL token on the Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>) mainnet.<\/p>\n<p>POL is positioned as a next-generation hyperproductive token that will <a href=\"https:\/\/cryptoslate.com\/polygon-labs-proposes-replacing-matic-token-with-upgraded-pol-in-ecosystem-expansion-plan\/\">replace MATIC<\/a> and is designed to play a significant role in the forthcoming Polygon 2.0 upgrade.<\/p>\n<p>&#8220;POL will power a vast ecosystem of zero knowledge-based Layer 2 chains via a native re-staking protocol that allows holders to validate multiple chains and perform multiple roles on each of those chains,&#8221; <a href=\"https:\/\/polygon.technology\/blog\/polygon-2-0-milestone-pol-contracts-are-live-on-ethereum-mainnet?utm_source=twitter&utm_medium=social&utm_content=pol-mainnet-blog\">said<\/a> Polygon Labs.<\/p>\n<p>The upgrade does not change the systems on the Polygon proof of stake (PoS) or Polygon zero-knowledge Ethereum Virtual Machine-based (EVMs) networks, as they will continue to work as previously designed.<\/p>\n<p>The team further explained that the POL upgrade sets the stage for the following milestones in its Polygon 2.0 roadmap, which include:<\/p>\n<blockquote><p>&#8220;[The launch of] a new staking layer to power Polygon L2s, upgrading Polygon PoS to zkRollup, and implementing an advanced, ZK-powered interoperability and shared liquidity protocol for all these L2s.<\/p><\/blockquote>\n<p>In June, Polygon Labs revealed plans for its Polygon 2.0 upgrade, which would see the network become the &#8220;Value Layer of the Internet.&#8221; According to the team, this upgrade will improve Polygon's ecosystem security, scalability, and support through its POL token.<\/p>\n<h2>MATIC falls<\/h2>\n<p><a href=\"https:\/\/cryptoslate.com\/coins\/polygon\/\">Data<\/a> provided by <em>CryptoSlate<\/em> shows that the native token of the Layer 2 network, MATIC, has experienced a decline of approximately 5% over the past 24 hours to $0.63223 as of press time.<\/p>\n<p>This decrease in MATIC's price aligned with the broader performance of the crypto market, which has seen values recede for the major digital assets, including Bitcoin and Ethereum. However, MATIC is not experiencing the same recovery seen by Bitcoin as of press time.<\/p>\n<p>Over the week, the industry saw a <a href=\"https:\/\/cryptoslate.com\/morgan-stanley-believes-crypto-winter-is-over-halving-will-kick-off-new-bull-run\/\">surge in optimism<\/a> about the possibility of approving an exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC), driving BTC and other cryptocurrencies prices to new <a href=\"https:\/\/cryptoslate.com\/bitcoin-jumps-4k-in-4-hours-as-it-touches-35k-on-blackrock-seeding-anticipation\/\">highs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon Labs has deployed the contract for its new POL token on the Ethereum (ETH) mainnet. POL is positioned as a next-generation hyperproductive token that will replace MATIC and is designed to play a significant role in the forthcoming Polygon 2.0 upgrade. &#8220;POL will power a vast ecosystem of zero knowledge-based Layer 2 chains via [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":368033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77497,76736],"tags":[72190,76797,79004,76918],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MATIC falls 5% as Polygon Labs activates next-gen POL token on Ethereum mainnet<\/title>\n<meta name=\"description\" content=\"Polygon Labs&#039; POL token contract is now live on the Ethereum (ETH) mainnet, according to an Oct. 25 statement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/matic-falls-5-as-polygon-labs-activates-next-gen-pol-token-on-ethereum-mainnet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MATIC falls 5% as Polygon Labs activates next-gen POL token on Ethereum mainnet\" \/>\n<meta property=\"og:description\" content=\"Polygon Labs&#039; POL token contract is now live on the Ethereum (ETH) mainnet, according to an Oct. 25 statement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/matic-falls-5-as-polygon-labs-activates-next-gen-pol-token-on-ethereum-mainnet\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-25T13:38:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/10\/polygon-pol.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/matic-falls-5-as-polygon-labs-activates-next-gen-pol-token-on-ethereum-mainnet\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/matic-falls-5-as-polygon-labs-activates-next-gen-pol-token-on-ethereum-mainnet\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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