Polygon 2.0, unveiled in June, is a set of proposed upgrades that radically reimagine almost every aspect of the Polygon ecosystem. Today, three Polygon Improvement Proposals (PIPs) were released that lay out the specific changes that, following community endorsement, will begin to take place in early Q4 of this year.
Not all of the upgrades will happen at once. The image below details important milestones.
This upgrade will not change any of the contracts on Polygon PoS and the native token’s properties will remain unchanged. All contracts on Polygon PoS will function as currently designed. Contracts on Ethereum expecting MATIC from the native MATIC Bridge may be affected by this upgrade.
This proposal describes POL along with accompanying contracts that would handle emission and token migration. POL allows for a one-to-one migration of the currently existing MATIC token, with an initial supply of 10 billion and yearly emission of 2% equally distributed between validator staking rewards and a community treasury.
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