Polygon Announces 'Three Improvement Proposals' Including POL Token Upgrade

Discover the future of Polygon with its officially announced Polygon 2.0, aimed at elevating the Ethereum network's capabilities.

Implementation could kick off as early as Q4 2023, don't miss out!

Official Release of Polygon 2.0 Proposals

Polygon Labs, the team behind the development of Polygon (MATIC), officially announced on September 14, 2023, three Polygon Improvement Proposals (PIP) regarding the upgrade of MATIC to POL under 'Polygon 2.0'.

Polygon 2.0 aims to "expand Ethereum's block space and construct the value layer of the Internet," offering limitless scalability and unified liquidity.

Polygon Labs had earlier announced the 'Polygon 2.0' plan in June this year and provided an outline for upgrading MATIC to POL in July.

The current announcement includes the publication of the 'Polygon Improvement Proposals (POP)', detailing the changes in the protocol for the community.

Details of the Three Polygon Improvement Proposals (PIP)

The three Polygon Improvement Proposals (PIP) announced are 'PIP-17, PIP-18, and PIP-19', and each of the proposals outlines the following:

• PIP-17: Details on the new token 'POL'
• PIP-18: Description about Polygon 2.0 Phase 0
• PIP-19: Explanation for upgrading from MATIC to POL

Key Upgrades in Four Phases

Phase 0 focuses on four main upgrades, which will be implemented step-by-step as described below:

1. Starting the upgrade from MATIC to POL
2. Making POL the native gas token in PoS
3. Making POL the staking token in PoS
4. Launch of the staking layer

Implementation to Begin As Early As Q4 2023

If these Polygon Improvement Proposals receive community approval, implementation could begin as early as the fourth quarter of 2023.

Note that the changes discussed in these three proposals are not expected to affect end-users at the current stage.

Polygon Labs has also encouraged community participation, stating that "anyone can contribute".

They have urged the community to read the proposals on the Polygon forum, leave comments, and ask questions.