The Polygon developers have converted the MATIC token to POL

ChainCatcher news, according to The Block, the Polygon development team announced that the MATIC token has been converted to POL. POL now becomes the native gas and staking token on the Polygon PoS chain, and major exchanges are expected to list it gradually. This migration is a key step for Polygon's development towards ZK chains and integration with AggLayer, aiming to consolidate liquidity and state across multiple chains.

POL will maintain the original tokenomics model, distribution method, and total supply of 10 billion of MATIC. MATIC holders on the Polygon PoS chain do not need to take any action; the tokens will automatically upgrade to POL. However, MATIC holders on Ethereum, Polygon zkEVM, or centralized exchanges need to actively convert their tokens to POL through the migration contract.