Polygon Labs has unveiled the release of its initial batch of PIPs as it embarks on implementing Polygon 2.0, a project hinted at since June to significantly enhance the Polygon ecosystem. Pending community approval, these PIPs are slated for finalization by the end of the fourth quarter.

The four forthcoming upgrades, contingent on approval, focus on POL, gas tokens, staking mechanisms, and staking hubs. They include transitioning from MATIC to POL, adopting POL as the native token for gas fees and Polygon PoS staking, and introducing the Staking Layer alongside the migration of Polygon public chains. These changes will be executed via Ethereum contracts and require community governance backing.

Polygon aims to elevate Ethereum's block space to construct the Internet's Value Layer, ensuring scalability and unified liquidity without constraints. Members, comprising holders of native tokens like MATIC, Polygon zkEVM users, node operators or stakers, and developers, will witness seamless implementation, with potential exceptions for developers unveiled closer to the live implementation. Developers can offer improvement suggestions until then, enabling them to scrutinize smart contract issues or support development while participating in governance.

Polygon Labs plans to host an AMA session on Discord for further clarification. The community has responded positively, anticipating the outcomes of these developments.

Of utmost significance is the transition of the native token from MATIC to POL, with its trading value reaching $0.5205 post-announcement. The community's properties and PoS contracts remain unchanged. Polygon 2.0 aims to empower its members, including creators and builders.

Discussions are underway, with members discussing the swap from MATIC to POL via a separate contract without the need for a bridge. Confidence in POL's efficiency and the strategic plan is widespread.

All upgrades will occur sequentially and are contingent upon governance approval.