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Polygon Labs has activated its new POL token on the Ethereum mainnet, marking a significant step in the forthcoming Polygon 2.0 upgrade. The POL token is positioned as a next-generation hyperproductive token that will replace the existing MATIC token. It is designed to power a vast ecosystem of zero knowledge-based Layer 2 chains through a native re-staking protocol. This protocol allows holders to validate multiple chains and perform multiple roles on each of those chains. The upgrade does not affect the existing systems on the Polygon proof of stake (PoS) or Polygon zero-knowledge Ethereum Virtual Machine-based (EVMs) networks. The team behind Polygon Labs has outlined several milestones for the Polygon 2.0 roadmap, including the launch of a new staking layer, upgrading Polygon PoS to zkRollup, and implementing an advanced interoperability and shared liquidity protocol for all Layer 2 chains. The Polygon 2.0 upgrade aims to enhance the security, scalability, and support of the Polygon ecosystem. In terms of market performance, the native token of the Layer 2 network, MATIC, has experienced a decline of approximately 5% over the past 24 hours. This decrease is in line with the broader crypto market, which has seen a decline in the values of major digital assets. However, MATIC has not experienced the same recovery as Bitcoin. Overall, the industry has seen a surge in optimism regarding the potential approval of a Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC), which has driven BTC and other cryptocurrency prices to new highs.