Sandeep Nailwal, one of many founders of Polygon, just lately interacted with the media. The dialogue was across the transformation of the native token, MATIC, to POL. First issues first, POL is stay on the time of drafting this text, and Sandeep has confirmed the identical within the media interplay.

He has known as POL a hyperproductive token. That is based mostly on the token’s performance to incentivize the validator and again the restaking mechanism. With POL being stay, validators are already getting their rewards for his or her providers.

Whereas the transformation is an improve, he has emphasised that it’s extra of a technical improve in an try and get away from the immutable attribute of MATIC. Validators are leveraging their POL holdings. People can anticipate the identical to occur as soon as Polygon has revealed pointers or a roadmap for them.

Nailwal has highlighted that altering the title might have been an choice, however the staff needed to navigate a approach round that concept since MATIC is an immutable token. It can’t be modified in any approach. Therefore, migration to a technical improve gave the impression to be a extra productive answer.

POL is poised to be a greater token. It has been architected in a fashion during which it will likely be capable of help a number of chains. The characteristic was lacking in MATIC, proscribing its utility. Thereby, a cap is placed on its worth on the board.

Touching upon the side of token economics, Sandeep has added that the precept is in place to inflate the financial system by 1% yearly. This might be utilized to incentivize validators to offer safety and validate transactions. Plus, it could contribute to the quantity of rewards holders can declare. The Ecosystem Treasury affords further help for POL. It’s tasked with rising the ecosystem following the allotment of 1%.

The target is to maintain Polygon aggressive with the massive names, together with, however not restricted to, Bitcoin and Ethereum.

Lastly, Sandeep touched upon the staking mechanism that makes POL crypto the third gen hyperproductive token. POL is very impressed by Ethereum, the place holders of the token can take part in Ethereum safety. POL takes a step ahead, giving holders the extra means to take part in further chains.

Which means that POL holders can take part within the Polygon Chain and different chains which are supported by the Polygon ecosystem.

The group has responded with blended reactions. Many of the members are trying ahead to the migration; nonetheless, some have mentioned that the MATIC token will now be poised to lose its worth following the publication of the media interplay.

As an alternative, MATIC has gained 4.06% within the final 24 hours, touching the worth of $0.8404. Though it displays a slip of 14.36% within the final 7 days, many group members are assured that POL will effectively redeem their holdings with higher features and return worth.