Polygon Migration from MATIC to POL on September 4

Polygon is a popular crypto project in the market and their token is known as MATIC. This project has been in existence for many years and even in the last bull run market the coin has done pretty well in terms of value appreciation. The project needs to follow development as well as bring something that can be a value addition to the Community. This blockchain is known because it offers compatibility with Ethereum applications and keeps the transaction cost very low.

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The problem with the Ethanium network is the transaction cost which is high and that is where the polygon is helping the community to run the same application on the blockchain but it keeps the transaction cost very low. Probably this is one of the major reasons why this project has got more attention in the market but I don't think it is going to be an Ethereum killer because this is a kind of compatible blockchain and building the layer 2 solution.

Now Polygon is migrating and they have confirmed 4th September as the date on which they will get it done. On 4th Sep they will migrate MATIC to POL token. The new token will replace Matic as a native token of this chain and its a chain that works on proof of stake.

Polygon, the largest Ethereum scaling solution announced that MATIC token will migrate to POL on September 4. The new token will replace MATIC as a native gas and staking token for the Polygon Proof-of-Stake (PoS) network.

We can see a decline in the matic price in the market and probably it is happening because the migration is near however with this migration the team behind Polygon is trying to bring a better experience for the community. This will also replace the old token with all the functionality but things are going to happen in phases.

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