Polygon(Matic) is now POL

[batang_bitcoin]

Polygon is going through some upgrades that you prolly missing and might be surprised from matic became POL for its acronym.
I'll quote the important parts of this upgrade but you're free to read the entire article for your reference which is also included on this thread.

[...]
PIP-18: Polygon 2.0 Phase 0
....
The initiation of the upgrade from MATIC to POL;
The upgrade from MATIC to POL as the native (gas) token for Polygon PoS;
The upgrade from MATIC to POL as the staking token for Polygon PoS;
The launch of the Staking Layer and migration of Polygon public chains to leverage it.[...]

The sources;
https://polygon.technology/blog/polygon-2-0-implementation-officially-begins-the-first-set-of-pips-polygon-improvement-proposals-released
https://x.com/0xPolygon/status/1717134336104038580

[TastyChillySauce00]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

[gunhell16]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

So what about the investors who have MATIC holdings?? Will it be converted to POL from the old version name Matic? Why did they change it? Is it because it is closer to the word "polygon"? Am I right? So they should remove the matic from the listing now, right?

Oh, since this is POL now, and those who have matic holdings will probably automatically convert it to usdt or Polygon's POL ticker name itself. It is because so unfair if there is POL and Matic in the exchange, isn't right?

[betswift]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

Yep, more organization is needed, I agree, doesn't seem professional, sorta

[Adbitco]

Polygon is going through some upgrades that you prolly missing and might be surprised from matic became POL for its acronym.
I'll quote the important parts of this upgrade but you're free to read the entire article for your reference which is also included on this thread.

[...]
PIP-18: Polygon 2.0 Phase 0
....
The initiation of the upgrade from MATIC to POL;
The upgrade from MATIC to POL as the native (gas) token for Polygon PoS;
The upgrade from MATIC to POL as the staking token for Polygon PoS;
The launch of the Staking Layer and migration of Polygon public chains to leverage it.[...]

Now what about token holders in exchange and in there various wallet what do they do to ensure they don't have worthless coin with them, now already they had stirred up fear in the eyes of holders and those who already trading it on their various trading platform.
I think there should be a proper way to handle this than just entire changing their ticker to POL, where as other exchange delisting their MATIC, and i'm mean to say is there no professional way to handle this like not delist instead of rebranding and changing names where either every traders and holds receives automatic equivalents of what they are holding in their possession both in exchange and in their respective wallets. This is a good news but could stir up a huge dump in their coin since most the exchange delisting them.

[hugeblack]

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

[batang_bitcoin]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

I agree, they should give more info in detail to inform every user that there's an upgrade that's happening. It's on the go and it may take sometime for it to be completed.

So what about the investors who have MATIC holdings?? Will it be converted to POL from the old version name Matic? Why did they change it? Is it because it is closer to the word "polygon"? Am I right? So they should remove the matic from the listing now, right?

Oh, since this is POL now, and those who have matic holdings will probably automatically convert it to usdt or Polygon's POL ticker name itself. It is because so unfair if there is POL and Matic in the exchange, isn't right?

AFAIK, they'll be automatically converted and just wait wherever your matic is deposited. If it's on exchanges, I guess that you have nothing to do anymore as they'll be the one to update your holdings. And it makes more sense to name it into POL than matic so you're right. You're mostly right in all that you've asked. But let's wait for the other updates soon.

Now what about token holders in exchange and in there various wallet what do they do to ensure they don't have worthless coin with them, now already they had stirred up fear in the eyes of holders and those who already trading it on their various trading platform.
I think there should be a proper way to handle this than just entire changing their ticker to POL, where as other exchange delisting their MATIC, and i'm mean to say is there no professional way to handle this like not delist instead of rebranding and changing names where either every traders and holds receives automatic equivalents of what they are holding in their possession both in exchange and in their respective wallets. This is a good news but could stir up a huge dump in their coin since most the exchange delisting them.

It's best to check all of your emails with where your matic's are deposited. They'll surely give the updates info about whether to sell or hold or whatever instruction that they have to give to its users so that they won't miss out this upgrade or if there's something that the holders has to do.

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

I agree, I think that they have put it on timing and will see if this is going to work for this bull run.

[logfiles]

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

I doubt if things will ever be the same again

Apparent the Ethereum gas fees have been dropping for a while so there will be no point of these layer 2 in the long run. Moreover, there are also very competitive layer 1 blockchains to Ethereum, such as Solana.

[TastyChillySauce00]

So what about the investors who have MATIC holdings?? Will it be converted to POL from the old version name Matic? Why did they change it? Is it because it is closer to the word "polygon"? Am I right? So they should remove the matic from the listing now, right?

They will swap it to POL at some point, binance and other exchanges planned to do that, but the confusing part is POL has been in the market for quite sometime, so there are two token that polygon is having, MATIC and POL. while POL in this case got additional feature such as restaking and ZK technology but it has low liquidity meanwhile MATIC which deemed inferior to POL still has significantly more liquidity than POL



it's 500k USD 24h volume vs $250 million 24h volume. the dev planned POL to replace MATIC in 4 years, but since the process is a really long process, I think there will be many turbulences caused by the migration and also confusions. at least this is my understanding.

[justdimin]

Polygon is going through some upgrades that you prolly missing and might be surprised from matic became POL for its acronym.
I'll quote the important parts of this upgrade but you're free to read the entire article for your reference which is also included on this thread.

I feel like Matic is still matic and this one is a different thing? Am I mistaking it, someone can make it more clear and explain to us what is going on but at the moment I feel like this is just a token at the eth main chain and it is what Matic is using for the token and the movements in and out. Of course, I could also be wrong and that is understandable but that doesn't mean that we are going to see a ton of differences, this seems like a good enough situation without a doubt.

The reality is that even if the whole name changed, or if the name matic stayed but this is something else, in either case we need more information to make a decision about it, I believe I am right but lets see what happens first before we make a move.

[wheelz1200]

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

I tend to agree the more confusing it is for the mass amount of people to follow the harder the price will be to see it climb.  When somebody doesn't understand the backend of what is happening and feel too nervous they won't put their money in it.  I haven't followed for a little bit bit but I kmwo the last couple years that team has done so.e pretty cool stuff with the project.

[shawonngp]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .


the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

Right it's very confusing, i was confused and i sold my Matic token it's was panic sell when I see binance announced delist Matic i sold instant with loss.
If Pol is still not created and to swap matic still a few days left now how Pol is live and trading in several exchanges, Pol price is higher than Matic.

[PX-Z]

..



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

The Kucoin article is somewhat clickbait and the same time effective, but all info regarding the "delist" can be read on the article content explaining everything about the migration. But yeah, it's really confusing especially to new users and first time hearing these news.

[Abiky]

I doubt if things will ever be the same again

Apparent the Ethereum gas fees have been dropping for a while so there will be no point of these layer 2 in the long run. Moreover, there are also very competitive layer 1 blockchains to Ethereum, such as Solana.

ETH gas fees won't stay low forever. Especially with the hype surrounding NFTs, "meme" tokens, and whatnot. Consider this as an opportunity to take advantage of low costs, before it's too late. L2s will always be necessary to help keep up with daily usage. Whenever the main blockchain network becomes congested, L2s will be there to save the day.

Polygon's move from MATIC to POL is no big change. It's just a marketing technique. The rebranding might help attract new investors into the project. But the hype will quickly fade away, as the majority are focused on faster chains such as Solana and BSC. Not even Polkadot had any success with "Polkadot 2.0". The chain with the largest ecosystem of dApps, tokens, and services will remain "King" forever. Don't expect ETH to lose ground anytime soon. Let's carry on, shall we?

[OgNasty]

I got an alert from my exchange about this. That is interesting but I can’t say I’m knowledgeable enough about the situation to know why it is necessary and how it affects things like NFTs on the (old?) chain. I played a bit on the Sandbox and earned some SAND and NFTs for example, so I guess I’ll have to learn how it effects those projects.

[naira]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

So what about the investors who have MATIC holdings?? Will it be converted to POL from the old version name Matic? Why did they change it? Is it because it is closer to the word "polygon"? Am I right? So they should remove the matic from the listing now, right?

Oh, since this is POL now, and those who have matic holdings will probably automatically convert it to usdt or Polygon's POL ticker name itself. It is because so unfair if there is POL and Matic in the exchange, isn't right?

User balances on centralized exchanges holding Matic are temporarily frozen until the ticker change process is fully completed. The Matic network or now POL has nothing new. They are experiencing a decline in investor interest because there is not much of an updated ecosystem that they present, even some tokens on the POL network have not moved much in price.

[nelson4lov]

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

Aside from the ticker change, I don't think there are any major changes to Poloygon's infrastructure or ecosystem so I don't we'll see any major price action to the upwards unless the market goes full parabolic in the last 4 months of the year. Fingers crossed but the rebrand I'm actually betting on is FTM to S (Fantom to Sonic). 

I won't be surprised if Polygon team intentionally delayed ticker change for years as last resort just like you said because they changed protocol name many years ago from "Matic network" to Polygon network but came the "MATIC" ticker for years.

[batang_bitcoin]

Polygon is going through some upgrades that you prolly missing and might be surprised from matic became POL for its acronym.
I'll quote the important parts of this upgrade but you're free to read the entire article for your reference which is also included on this thread.

I feel like Matic is still matic and this one is a different thing? Am I mistaking it, someone can make it more clear and explain to us what is going on but at the moment I feel like this is just a token at the eth main chain and it is what Matic is using for the token and the movements in and out. Of course, I could also be wrong and that is understandable but that doesn't mean that we are going to see a ton of differences, this seems like a good enough situation without a doubt.

Yes, there's still matic because the upgrade is not yet completed. All of the explanations are there on the links that I've placed on the first post. They're making POL as a staking token and why they're making this upgrade. I also don't get it why they're on the ETH chain when they can make their own mainnet with this upgrade but maybe that's going to happen with their next update and it is for them to answer that soon. But for the meantime, those are the placed answers that they have why this is happening.

The reality is that even if the whole name changed, or if the name matic stayed but this is something else, in either case we need more information to make a decision about it, I believe I am right but lets see what happens first before we make a move.

I agree, everyone got used to matic already and now during this run they're changing it. And yes, we have to wait what will happen next.

I also agree with everyone's thought that there's not that much going to change with this upgrade regarding its price and it seems that the community doesn't like it but we can't do anything with that and we'll have to wait for its impact until it's completed.

[X-ray]

User balances on centralized exchanges holding Matic are temporarily frozen until the ticker change process is fully completed. The Matic network or now POL has nothing new. They are experiencing a decline in investor interest because there is not much of an updated ecosystem that they present, even some tokens on the POL network have not moved much in price.

being the oldest L2 is rough when other exchange already implementing such groundbreaking technology that put them far ahead compared to polygon.
the newest chain got the benefit of just copying existing feature since pretty much the feature is being published and is open source so it only requires little tinkering while also have the leisure time to grow additional features.
but I think the L2 market as a whole is already having decline of investors, so the fault isn't completely on the polygon side.

people are more interested in new blockchain that actually matters, these L2 no matter how good they are, always become the side dish of the main blockchain which is L1 and people finally realizes that L2 are created every week.

[hugeblack]

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

I doubt if things will ever be the same again

Apparent the Ethereum gas fees have been dropping for a while so there will be no point of these layer 2 in the long run. Moreover, there are also very competitive layer 1 blockchains to Ethereum, such as Solana.

I think L2 has many more uses than just reducing fees. For example, decentralized exchanges, NFTs, games, and many things that are not considered transactions should be there. Here, the fees will be constantly low with the possibility of being able to be scalable in unnecessary directions.