The Polygon network is undergoing a significant transformation, migrating from its native MATIC token to a new token called POL. This strategic upgrade is designed to support the network's long-term growth, scalability, and vision of becoming the value layer of the internet. Here’s everything you need to know about the transition, node incentives, and the future of Polygon.
Understanding the MATIC to POL Migration
The migration from MATIC to POL is a two-phase process:
- Phase One: Existing MATIC tokens are automatically converted to POL at a 1:1 ratio. This phase is expected to be completed by the end of Q3 2024.
- Phase Two: The Polygon ecosystem will fully transition to the new POL token, which will be used for gas fees, governance, and node validation.
Following community approval, the mainnet upgrade occurred on September 4, 2024. POL now serves as the primary token for gas fees and node operations, maintaining MATIC's original tokenomics, distribution, and total supply.
POL Token Distribution to Node Validators
A key initiative to decentralize and secure the network is the incentive program for node validators, which is being rolled out in three distinct phases:
- Phase One (Completed): From May 1 to August 1, 2024, 100 million MATIC tokens were distributed to active node validators.
- Phase Two (Ongoing): Starting December 1, 2024, 200 million POL tokens are being allocated to effective node validators.
- Phase Three: Beginning May 1, 2025, an amount determined by the Polygon research team will be distributed.
By activating an official Polygon node, participants can run a decentralized node and earn POL rewards on-chain.
Node Tiers and Reward Rates
Rewards are distributed based on the tier of node a user activates, with incentives paid in POL.
| Node Tier | Activation Range (in USDT) | POL Reward Rate |
|---|---|---|
| Standard | 50 - 999 | 4% |
| Premium | 1000 - 4999 | 4.5% |
| Super Node | 5000 - 30000 | 5% |
Note: Activation must be performed on the Polygon network using USDT.
Super Nodes receive additional incentives for building their network, earning 30% of the first-generation rewards and 20% of the second-generation rewards from their invites.
How to Activate a Polygon Node
The process to become a node validator is designed to be straightforward and secure.
- Copy the official node activation link.
- Paste it into the "Discover" search bar of a supported Web3 wallet (e.g., Binance Web3 Wallet, Bitget Wallet).
- Click "Start Now."
- Confirm the payment to cover the node activation gas fee.
- Save your unique node invitation link and code.
Key Security Features for Node Validators
The node system prioritizes security and user asset control with the following guarantees:
- No authorizations are granted to any third-party applications.
- There is no staking or freezing of any wallet assets.
- No deposit ports exist; the system is fully decentralized.
- There are no lock-up periods or restrictions on entering or exiting.
- Assets are always under your control and can be swapped for USDT and withdrawn at any time.
The Utility and Incentive Model of POL
The transition to POL is more than a rebranding; it's a strategic evolution to create a self-sustaining engine for the Polygon network. POL is designed to drive growth and innovation through its utility and emission model.
Validator Incentives
As the backbone of the network, validators are crucial for security and scalability. A significant portion of POL emissions is allocated to reward effective validators.
- Network Security: Guaranteed rewards provide a constant incentive for validators to act honestly and secure the network.
- Supporting Scalability: A stable reward supply allows the validator pool to grow, supporting an increasing number of chains and transactions.
Community Treasury
A portion of the POL emission funds a community treasury, managed by a committee, which acts as a central hub for ecosystem development.
- Ecosystem Growth: Resources are allocated for protocol development, research, grants, and adoption initiatives.
- Sustainable Growth: Continuous funding ensures Polygon remains at the forefront of blockchain technology.
Funding for Continuous Innovation
The POL emission model provides a steady stream of capital to fuel the network's future.
- Research & Development: The treasury funds new projects that push the boundaries of blockchain technology.
- Grants & Incentives: Attracting new developers and projects helps foster a vibrant and innovative ecosystem.
How to Migrate from MATIC to POL
The migration process is designed to be as seamless as possible for users.
- Automatic Migration: If you hold MATIC on the Polygon PoS chain, no action is required. Your tokens were automatically converted to POL during the upgrade.
- Manual Migration: If you hold MATIC on the Ethereum mainnet, you must use the migration tool on the official Polygon Portal to upgrade your tokens.
- CEX Migration: Major centralized exchanges have supported the upgrade. Users should have followed their exchange’s official announcements for specific migration instructions.
For a seamless experience managing your new POL assets and exploring the broader ecosystem, you can explore more strategies and tools here.
Frequently Asked Questions
What is the difference between MATIC and POL?
MATIC was the original native token of the Polygon network. POL is its upgraded replacement, featuring a new smart contract and designed to support a broader, multi-chain vision for the ecosystem, including enhanced validator roles and governance.
Do I need to do anything if my MATIC is on a exchange?
If your MATIC was held on a major centralized exchange during the snapshot period, the exchange should have automatically handled the conversion to POL. Always refer to official announcements from your exchange for confirmation.
How do I become a Polygon node validator?
You can activate a node directly through supported Web3 wallets by using an official activation link, paying the required gas fee in USDT on the Polygon network, and following the on-screen instructions.
Are there any risks to running a node?
The official node system is designed to be non-custodial and permissionless. There is no staking, freezing of funds, or authorizing required, meaning you maintain full control of your assets at all times.
What can I use POL for?
POL is used to pay for gas fees on the Polygon network. It is also central to governance, allowing holders to vote on proposals, and is used to incentivize and reward node validators who secure the network.
Can I still use my old MATIC tokens?
No. Following the successful upgrade and conversion, MATIC tokens have been fully retired and replaced by POL on a 1:1 basis. Only POL is used within the ecosystem.
Conclusion
The migration to POL marks a critical milestone in Polygon's development, finalizing its evolution from a single chain to a expansive multi-chain ecosystem. More than a simple token upgrade, POL represents a strategic shift that enhances Polygon's technical capabilities, decentralizes decision-making, and creates a sustainable model for infinite scalability. By incentivizing validators and funding innovation through a community treasury, POL is poised to drive Polygon toward its long-term vision of becoming the foundational value layer of the internet.