Binance managed the transition with precision, converting all $MATIC tokens to $POL at a 1:1 ratio. The migration aligns with Polygon’s ambitious Polygon 2.0 upgrade, which aims to make the network more versatile and efficient for various blockchain applications.

At the time of writing Polygon (POL) is surges by impressive +8.79% and currently trading trading at $0.4122 with the marketcap of $2.89 billion.

What’s New with $POL?

The introduction of $POL isn’t merely about a new name. It signifies a broader transformation in Polygon’s approach to blockchain technology. Initially, $POL will function as both the gas and staking token for Polygon’s Proof of Stake (PoS) network. Looking ahead, $POL will also support Polygon’s new “AggLayer,” an aggregation layer designed to enhance interaction between different blockchains.