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MATIC Migration to POL
On September 4th, the long-awaited upgrade from MATIC to POL continues. In the initial phase, POL replaces MATIC as the native gas and staking token for the Polygon PoS network. In subsequent phases, POL will serve a crucial role in the AggLayer.
Polygon (MATIC) tokens will be migrated to Polygon Ecosystem Token (POL) at a ratio of 1:1.
So what does this all mean for holders of MATIC?
Users with MATIC on Ethereum can upgrade via the Polygon Portal Interface: https://portal.polygon.technology/pol-upgrade
For holders of MATIC on Polygon PoS, no action will be required. POL will be upgraded automatically to become the native gas and staking token on Polygon PoS without having to lift a finger.
For holders of MATIC on Ethereum, Polygon zkEVM, or centralized exchanges (CEXes), some action may be required if a user desires to upgrade MATIC to POL. When MATIC holders are ready to upgrade, a migration contract that is already deployed will enable holders to upgrade MATIC to POL on Ethereum permissionlessly. More information is available at the bottom of this blog.
