Polygon has deployed the contracts of its new POL tokenwhich will replace MATICon the testnet Goerli d’Ethereum.
This Wednesday, Polygon Labs has announced on its blog that contracts for the new token POL had been deployed on the Goerli test network – which will soon be replaced by holesky.
The deployment follows the approval of several proposed enhancements (PIPs), including one detailing the token specifications (PIP 17), published last month as part of the 2.0 transformation of the popular L2 Ethereum.
The deployment of POL contracts on the testnet is the result of a community consensus and a major step towards realizing the Polygon 2.0 vision. The proposed set of upgrades radically reinvents almost every aspect of the Polygon ecosystem with the aim of scaling Ethereum to the size of the Internet. Implementation begins this quarter, following community approval,” wrote Polygon Labs.
Also, two new proposals outlining modifications to the native token burn mechanism required for future upgrades are online.
The first, PIP-24: change EIP-1559 specifies burn system updates and constitutes “ a prerequisite “ to the implementation of Polygon 2.0 phase 0.
The second, PIP-25 : Adjust POL Supplyproposes a mechanism to ensure that all previously burned MATICs have a 1:1 ratio with POL, in order to ensure mechanism consistency.
The startup specifies that users, node operators and other developers currently have no action to take.
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