In a recent Twitter thread, Sandeep Nailwal, the founder of Polygon, unveiled the potential of POL. POL is a new upgrade designed to power Polygon 2.0. This innovation aims to redefine the landscape of Layer 2 (L2) solutions, offering a multi-dimensional approach to staking and network security.
According to Nailwal, POL will facilitate multi-chain staking without the inherent risks associated with re-staking. Furthermore, with the advent of Polygon 2.0, the ecosystem will transform from a single chain into a network of interoperable L2 solutions.
Nailwal says POL is an innovation in re-staking
With the POL, Polygon’s Proof of Stake (PoS) will itself become an L2 within the broader network. Validators will no longer stick to a singular role. Additionally, they can secure the hub, run provers to generate cryptographic proofs, and batch transactions as sequencers. This new role necessitates a new token design, and POL expects to meet these multifaceted requirements, according to Nailwal.
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POL introduces the concept of “enshrined res-taking.” This allows users to re-stake the token across multiple chains within the network. This eliminates the need for trusted third parties, thereby reducing centralization risks. Moreover, POL can be used not just for securing chains but also for other layers like aggregate (Agg) layers and decentralized autonomous communities (DACs).
POL represents the third generation of token design, following in the footsteps of Bitcoin (BTC) and Ethereum (ETH). Nailwal says that POL takes it a step further by enabling holders to secure multiple networks and assume various roles, making it a “hyperproductive” token.