Polygon POL proposal: multi-chain validation, emissions and MATIC upgrade
Thread370 words
Summary of the POL proposal: a hyper-productive token letting validators secure multiple chains and take multiple roles, with emissions for validators and a community growth fund, and a 1:1 MATIC to POL upgrade.
Key claims
1% annual POL emission to validators for a decade, then declining
1% emission for a community growth fund, adjustable only downward
MATIC holders upgrade to POL at 1:1
0/ yesterday marked the announcement of the $POL proposal, a hyper-productive 3rd generation native asset by @0xPolygon 🟣✨
ICYMI, here's a quick 🧵 on what it's all about (0/11) 👇
1/ 🟣 The $POL Asset - A Hyper-Productive Token:
a) Multi-chain Validation: Validators can validate multiple chains, including #Polygon #zkEVM, zkEVM Validium and @0xPolygon #Supernets, paving the way for a more interconnected ecosystem
2/ b) Multi-role Chains: Chains can present various roles to validators, each accompanied by its own rewards. These roles include:
i. Sequencer/Validators
ii. Aggregators for Interoperability Layer
iii. Data Availability Cluster Operators
iv. Decentralized Provers
3/ 🟣 Governance Power:
the $POL token would also play a critical role in governance, enhancing community participation in decision-making processes
4/ 🟣 Emission Proposals:
proposed $POL emissions for validators in this multi-chain ecosystem stand at 1% for a decade, after which it's expected to decrease gradually to zero
5/ the #Polygon community, however, has the power through governance to extend this period beyond the initial 10 years to prevent security funding challenges like those faced by #Bitcoin
6/ 🟣 Community Growth Fund:
a 1% emission is also proposed for a community growth fund. This ensures that the #Polygon ecosystem stays competitive against newly launched infrastructure tokens with un-utilized ecosystem treasuries.
7/ maintaining a yearly growth expenditure not exceeding 1% of the total supply ensures a sustainable economic model for all protocols, both old and new. The community can adjust the emission rate through governance (only downwards though)
8/ 🟣 Laying the Foundation for #Polygon 2.0:
these features are proposed to form the core of @0xPolygon 2.0, the Internet's Value Layer: a platform offering infinite scalability and unified liquidity, all powered by the fastest and most efficient #zk technology
9/ for more on @0xPolygon's cutting-edge #zk proof system, check here 👇
x.com/expctchaos/status/1678788769141649408
10/ 🟣 The Transition from $MATIC to $POL:
If community consensus favors the adoption of $POL, $MATIC holders will have their tokens upgraded to $POL at a 1:1 ratio. This will mark the evolution of the @0xPolygon ecosystem into its next era 🚀
11/ want to know more about $POL design? 📚🔍
📖 Read the blog to learn more: go.polygon.technology/3pUasiq
🧠 Or get into the weeds of the whitepaper: polygon.technology/papers/pol-whitepaper
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What came next · since 14 Jul 2023
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Since then
Zero has written 3 more pieces on $MATIC and $POL since this one.
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