POL Contracts Go Live on Ethereum Mainnet as Part of Polygon 2.0

Smart contracts of the upcoming POL token went live on the Ethereum mainnet as the Polygon blockchain gears for a shift towards its ‘2.0’ plan, developers shared in a release to CoinDesk on Wednesday.

A group of Polygon founders and researchers previously proposed a token upgrade that would replace the network’s MATIC token with POL in a move that lets POL function as a single token for all Polygon-based networks.

These networks include the main Polygon blockchain, the Polygon zkEVM network, and various supernets – application-specific blockchains that run atop the main Polygon network.

The upgrade to POL from MATIC requires a simple technical action – sending MATIC to the upgrade smart contract, automatically returning the equivalent amount of POL.