As part of its infrastructure-rebuilding strategy, Polygon, the top Ethereum scaling company, has deployed POL contracts on the Goerli testnet.
Sandeep Nailwal, a co-founder of Polygon, declared on Twitter (X) that the implementation of POL smart contracts on testnet is a significant step for the company in developing Polygon 2.0.
POL introduction ideas and the launch of the Polygon 2.0 vision were both announced last month. The Polygon development team announced that POL will take MATIC’s place as the ecosystem’s native token.
Polygon has also revealed two further PIPs (Polygon Improvement Proposals) 24 and 25, which address a modification in Polygon PoS, along with the launch of POL contract on testnet. While PIP-25 suggests making sure that all burned MATIC supply is converted 1:1 to POL, PIP-24 will update the recipient address of the burn on Polygon PoS.
POL, the new MATIC, will fuel the Polygon 2.0 ecosystem by enabling staking, community ownerships, and governance, the blogpost claims. PIP-17 had already introduced POL’s implementation approach and all of its technical aspects.
Last month saw the introduction of PIP-19, a significant proposal that called for MATIC to be replaced with POL as the gas token on Polygon PoS.
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