Polygon Labs publishes 3 proposals for Polygon 2.0

The startup behind Polygon published from first improvement proposals as part of the transformation 2.0 of the famous layer 2 solution.

This Thursday, Polygon Labs declared that the implementation of Polygon 2.0 officially kicked off today with the release of the first set of PIPs (Polygon Improvement Proposals).

Announced last June, Polygon 2.0 is a set of updates designed to “radically” reinvent almost every aspect of the protocol, including its architecture, tokenomics and governance. The aim is to create a network of L2 chains powered by ZK and unified via a new inter-chain coordination protocol.

The 3 first proposals are part of the phase 0 of the initiative. They include an overview of the transition, specifications for the enhanced token and updates to the native Polygon PoS token.

PIP-18 provides a general overview of the upgrades that will be detailed in separate PIPs and aims to ensure that no action will be required from users and developers on Polygon PoS and Polygon zkEVM.

PIP-17 returns to its new POL token as well as the accompanying contracts. ” POL allows individual token migration MATIC existing, with an initial supply of 10 billion and an annual issue of 2% divided equally between validator wagering rewards and a community treasury,” reads the announcement.

This summer, the layer2 proposed POL as a successor to MATIC. The digital part can be staged on the various channels of its ecosystem.

Finally, PIP-19 is dedicated to the update of the native gas token on Polygon PoS of MATIC to POL to ensure maximum compatibility.

This must be accomplished by upgrading the native MATIC bridge contract. The native token on Polygon PoS will change from a MATIC bridge claim to a POL bridge claim,” says Polygon Labs.

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