Coinbase Adds Support for Highly-Anticipated Polygon (MATIC) Re-Brand Token Polygon Ecosystem Token (POL)
Prime US-based crypto trade Coinbase is including assist for the Polygon’s (MATIC) extremely anticipated rebrand to the Polygon Ecosystem Token (POL).
In a brand new announcement, Coinbase Property says it’s including POL to its suite of merchandise with an experimental label, that means it might show excessive worth volatility or comparatively low buying and selling quantity.
Final month, Coinbase introduced that it added the token to its itemizing roadmap, which was created in 2022 for transparency and to stifle the front-running of digital property.
MATIC’s rebranding to POL was first proposed final July as a strategy to increase the community’s utilization and progress. A few month later, Sandeep Nailwal, the founding father of Polygon Labs, mentioned that the transition was a part of a shift towards higher interoperability.
As said by Nailwal on the time,
“POL delivers the benefits of multi-chain staking without the added risks of restaking. With the Polygon 2.0 proposal, the Polygon Ecosystem will expand from a single chain to an ecosystem of L2s (layer-2s) that can easily interoperate and share liquidity with each other.”
Beforehand it was disclosed that POL and MATIC won’t coexist and that POL can be taking up because the native staking and fuel token for the ecosystem. Moreover, the group will determine sooner or later if POL’s use instances can be expanded.
POL Is buying and selling for $0.37 at time of writing, a 4% dip within the final 24 hours.
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