Polygon Founder Announces POL: Massive Technical Upgrade to MATIC

Sandeep Nailwal, the founding father of Polygon, introduced a big technical improve to the Polygon ecosystem with the introduction of the POL token. The announcement, made by way of Twitter, outlines how POL goals to revolutionize multi-chain staking and produce a few new period in token design.

POL: A Technical Marvel

In response to Nailwal, “POL is an enormous technical improve to MATIC. POL delivers the advantages of multi-chain staking with out the added dangers of restaking.” The token is a part of the Polygon 2.0 proposal, which seeks to broaden the Polygon ecosystem from a single chain to an interconnected community of Layer 2 options (L2s).

The Imaginative and prescient Behind POL

In response to a latest blog post on Polygon’s official web site, the POL token is engineered to function the “main instrument for coordination and development of the Polygon ecosystem, in addition to the primary driver behind the imaginative and prescient of the Worth Layer for the Web.” The token is designed to supply “virtually limitless alternatives” to its holders by enabling validators to supervise a number of chains and assume numerous roles, thus considerably accelerating the expansion of the Polygon ecosystem. Nonetheless, the introduction of POL rewards will change the present MATIC protocol rewards for Polygon validators, elevating questions in regards to the future position of MATIC and its potential impression on the asset’s market worth.

Multi-Chain Staking and Enshrined Restaking

Probably the most notable options of POL is its method to “enshrined restaking,” which permits the token to be restaked throughout any variety of chains on the community. Nailwal states, “POL can natively be used to stake any variety of chains and take part in any variety of roles. This lets stakers earn increased rewards with the identical staked capital.”

Decreasing Centralization

The POL token is designed to reduce reliance on trusted third events, thereby decreasing vectors of centralization. “Enshrined restaking totally avoids reliance on trusted third events, creating fewer vectors of centralization,” Nailwal defined.

A New Era in Token Design

POL represents a 3rd era in token design, following Bitcoin (BTC) and Ethereum (ETH). Whereas BTC doesn’t enable holders to take part in securing the community, and ETH permits staking for community safety, POL takes it a step additional. In response to Nailwal, “POL is designed from the bottom as much as be the primary hyperproductive token — a 3rd era in token design.”

Picture supply: Shutterstock

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