Polygon has initiated an upgrade from MATIC to POL tokens, with an annual issuance rate of 2%
Polygon will officially initiate the upgrade of its long-term used MATIC token to the new POL token this Wednesday. This upgrade is part of the "Polygon 2.0" roadmap, aiming to enhance the flexibility of token issuance and make POL become the native token for Polygon PoS chain and other chains in its ecosystem. The annual issuance rate of the new POL tokens will be 2%, with a portion of supply being used to reward validators on Polygon's PoS, while another portion will go into community treasury to support sustainable development within its ecosystem. Marc Boiron, CEO of Polygon Labs, stated that this upgrade was due to technical limitations with MATIC tokens; the new method for issuing tokens would provide support for community growth and decentralized network development.
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