Polygon announces new proposals for its 2.0 platform

Polygon announces new proposals for its 2.0 platform

The initial set of improvement suggestions for the revamped polygon 2.0 platform has been released by Polygon.

The new Polygon Improvement Proposals address the token migration from MATIC to POL, plus the launch of Polygon's new staking layer.

The PIPs contain four core steps, including the token migration, establishing POL as the native gas token for polygon networks, establishing POL as staking token of polygons networks, and launching the polygon 2.0 staking layer.

Polygon said it would roll out phase 0 in Q4 of this year if the community demands minimal changes to the proposals.

In a statement, polygon said, polygon was confident he had won the battle, and that he would continue to invest in the industry.

The MATIC token of polygon is up nearly 2% today, but down 4% over the past week, according to CoinGecko.

In June, Polygon announced plans for a 2.0 overhaul, urging the unification of Polygon's various scaling solutions into a multi-chain ecosystem of interconnected networks leveraging zero-knowledge technology.

The ecosystem of Polygon currently encompasses the PoS Chain, zkEVM, Nightfall, and Miden networks. The PoS Chain was launched in 2017 before rebranding in 2021, and is Polygon's biggest network with a net worth of $792 million.

The PoS Chain, however, lags in technical capabilities compared to Polygon's new zkEVM, launched in March of this year. The 2.0 blueprint combines the impressive TVL of PoS Chain with the technical capabilities of zkEVM.

In addition, Polygon unveiled Nightfall, a hybrid optimism-ZK rollup developed in collaboration with Ernst & Young last year. In April 2022, Polygon installed Supernets, enabling teams to launch bespoke Layer 3 appchains while utilizing Polygon's staking layer for security. The Chain Development Kit by Polygon has been introduced, allowing users to launch their own Layer 2s based on Polygon's tech.