Coinbase has added Ethereum (ETH) layer-2 Polygon’s yet-to-be-launched native token to its itemizing roadmap.
Making the announcement through social media platform X, the highest US crypto trade says it has positioned Polygon’s POL on its itemizing roadmap, which the trade created in 2022 for the aim of transparency and to forestall front-running of token listings.
POL is the upcoming rebrand of Polygon’s MATIC, which is slated for launch on September 4th, in keeping with Polygon Labs.
MATIC will finally get replaced by POL because the native fuel and staking token for Polygon within the preliminary section of the transition. In subsequent phases, the neighborhood will resolve whether or not to develop the utility of POL.
The token rebrand was first proposed final July as a method of supercharging the expansion of the community. Weeks later, Polygon Labs founder Sandeep Nailwal explained that the proposal was part of the blockchain’s transition to Polygon 2.0.
Say the builders,
“In the long run, the present neighborhood consensus proposes that POL will help broader roles within the Polygon staking hub (to be launched in 2025), together with block era, zero-knowledge proof era, and participation in Information Availability Committees (DACs)…
Following [the proposal], consensus was reached that Polygon PoS validators should stake POL to earn protocol rewards and transaction charges in POL. Meaning each single transaction that takes place on Polygon PoS, beginning 9/4, will use POL because the native fuel token. That’s the short-term utility.”
Coinbase already helps buying and selling for MATIC, which is presently priced at $0.523.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Examine Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any losses it’s possible you’ll incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney