Polygon 2.0: Everything You Need to Know About 3 PIPs and Phase 0 (cryptopotato.com)

Polygon 2.0: Everything You Need to Know About 3 PIPs and Phase 0


In a blog post, Polygon Labs presented three Polygon Improvement Proposals (PIPs) that provide a comprehensive roadmap for Phase 0 with the overarching aim of establishing an interconnected network of zero-knowledge-powered layer-2 chains.

Polygon has doubled down its efforts to create an interconnected layer-2 Ethereum ecosystem powered by zero-knowledge technology for its recently unveiled Polygon 2.0’s roadmap. As such, Polygon Labs – the organization behind the scaling solution – has released three PIPs.

PIP 17 focuses on the Polygon Ecosystem Token (POL) and outlines the transformation of MATIC into POL, which will serve as the upgraded native token for Polygon 2.0, as well as accompanying contracts. Meanwhile, the initial configurations are designed to handle emission management and token migration.

PIP 18 proposes several crucial components, including the initiation of the POL upgrade, the transition from MATIC to POL as the native (gas) token for Polygon PoS, the adoption of POL as the staking token for Polygon PoS, and the launch of the Staking Layer, along with the migration of Polygon’s public chains to leverage this new layer. The post explained,

“Polygon 2.0 envisions a network of interconnected ZK-powered L2 chains that, on aggregate, expand Ethereum blockspace and create the Value Layer of the Internet. This environment is seamlessly interoperable, offering access to unified blockspace across all Polygon chains as well as infinite scalability.”

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