Polygon Labs, the vanguard developer entity spearheading the layer-2 Polygon network, announced on Wednesday its imminent technical enhancement to transition from its current MATIC token to the newly introduced POL token, commencing on September 4.

This migration is a cornerstone of Polygon’s comprehensive transformation strategy delineated in the “Polygon 2.0” roadmap revealed last year. The community first encountered this proposal in July 2023, intending to elevate POL as the principal token across all Polygon ecosystems.

The transition involves a sophisticated technical overhaul, positioning POL as the native gas and staking token for Polygon’s primary proof-of-stake chain (Polygon PoS). Subsequent phases of the upgrade will extend POL’s security provision to additional blockchains within Polygon’s expansive “aggregated” network, encompassing the AggLayer.

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Polygon articulated in their blog post, “POL is a hyperproductive token designed to offer invaluable services to any blockchain within the Polygon network, including the AggLayer itself.”

The Polygon team assures that MATIC holders on the Polygon PoS chain need not take any action for this upgrade; their tokens will seamlessly convert to POL. Conversely, those utilizing MATIC on Polygon’s zkEVM rollup, centralized exchanges, or the Ethereum blockchain will need to follow specific procedures detailed by Polygon in their blog post.

To ensure a seamless transition, Polygon conducted a test of the token upgrade on July 17 within a controlled test network environment, aiming to identify and rectify any potential issues before the POL token goes live on the mainnet.