Polygon has officially replaced its original token, MATIC, with the new token, POL, to support its evolution into an interconnected network of blockchains called Agglayer. The upgrade is a 1:1 swap, meaning users will not lose any value during the transition.
Coinbase has outlined its migration plan for users, which will take place between October 14 and 17, 2025. During this period, all MATIC on the platform will be automatically converted to POL. To facilitate this, several services will be paused:
Users who do not want their tokens to be converted must move their MATIC to a self-custody wallet before October 14.The new POL token introduces a new 2% annual emission model—half for validator rewards and half for a community treasury. Unlike MATIC, which was primarily for transactions and staking on the Polygon PoS chain, POL's utility will expand to power the broader Agglayer network. The upgrade is designed to be seamless and backward-compatible to prevent disruption for users and applications.
For most users holding MATIC on Coinbase, no action is required. However, users who hold MATIC on Ethereum must manually swap their tokens using the Polygon Portal. This upgrade is a major step in Polygon's vision to become a unified Web3 ecosystem, combining liquidity and state across multiple chains.
September 2025, Cryptoniteuae