Polygon Releases Three Proposals on 2.0 Upgrade

Polygon Labs has released three Polygon 2.0 Upgrade Proposals (PIPs) that detail the outline of the transition, specifications for the upgraded Polygon 2.0 architecture, and updates to its native tokens. These proposals will be implemented upon approval via a governance vote. The final Polygon 2.0 upgrade is expected to take place next year.

Among the three proposals, PIP-17 outlines "Phase 0" of Polygon 2.0. The main aspect of the proposal is to ensure that end-users and developers do not have to take any action on existing Polygon PoS and Polygon zkEVM chains during the upgrade.

PIP-18 proposes the deployment of POL tokens, which are intended to replace the existing MATIC tokens as the native Gas and staking asset of the Polygon ecosystem.

PIP-19 proposes to upgrade the native Gas token on Polygon PoS from MATIC to POL. This ensures that the token upgrade does not change the smart contracts on Polygon PoS in terms of compatibility. The goal is to ensure upgraded POL token's code properties remain the same.

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