Polygon Labs has deployed contracts for the project’s next-generation cryptocurrency, POL, on the Ethereum mainnet following a testnet deployment earlier this month.

The development comes after a series of now-approved Polygon Improvement Proposals in September that detailed the specifications for the POL token. This cryptocurrency is an evolution of MATIC and aims to align with the architecture of the upcoming Polygon 2.0 upgrade.

Several key proposals were on the table: PIP-17, which initiates the POL cryptocurrency upgrade, and PIP-19, which recommends the adoption of POL as Polygon’s proof-of-stake native gas and staking coin. As a result, POL will serve as the main cryptocurrency for the Polygon 2.0 ecosystem, supporting an ecosystem of zero-knowledge-based Layer 2 chains and …