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Polygon’s New POL Upgrade is Now Live on the Ethereum Mainnet, Will MATIC hit $1?

The Polygon team says that releasing the POL update is the first step toward reaching the next goals of the Polygon 2.0 plan.

Claudia Fischer



polygon update

Polygon has been working on the POL upgrade for a couple of months and tested it by deploying it on the mainnet. Finally, the POL upgrade is now live on the Ethereum mainnet. On 25 October 2023, the polygon teams shared an update about the project that this newly launched POL upgrade is a milestone for them and a fruitful result of their efforts.  Moreover, the team says that releasing POL is the first step toward reaching the next goals of the Polygon 2.0 plan.

Polygon 2.0 Plans Unveiled: What’s Coming Next?

Polygon’s Ethereum sidechain keeps on developing. Apart from the challenges and circumstances that Polygon had to face during its last Bull Run, made MATIC fall below $1. MATIC is the native currency that went below its support level before crashing the spot level is now expected to rise again with the launch of Polygon 2.0, and would help MATIC to regain its lost legacy.

The core objective of Polygon’s new launch is to affirm the Polygon network as more user-friendly, secure, reliable and scalable. To achieve the mentioned agenda, Polygon is going to leverage an advanced mechanism, POSL (proof-of-stake liquidity) which is more efficient as claimed by the developer’s community.

Also Read: Google Cloud Expands Blockchain Data with 11 New Networks, Including Polygon

In Polygon 2.0, the team is making some important changes to how things work. Validators will need to invest their own tokens and provide funds to join the network. Validators’ funds will boost liquidity in decentralized exchanges (DEXes) on the sidechain. With Polygon 2.0, DEXes will have more funds, making token trading quicker, cheaper, and smoother for users.

Will MATIC hit $1?

This launch of Polygon 2.0 is now kick-starting its role in fueling a network of ZK-based layer-2 chains. Although MATIC is a versatile token for transactions, governance, and staking rewards, still it is uncertain if this will push MATIC to $1. MATIC has risen 30% from its October 2023 lows, recovering from a dip on October 17, and is trending upwards.

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