Polygon launches native liquid staking token sPOL

ME News Report, April 15 (UTC+8), Polygon recently launched its native liquid staking token sPOL, aimed at increasing the yields for POL token stakers. The launch of sPOL will unlock approximately 3.6 billion POL tokens and provide stakers with priority transaction fee sharing. Currently, only 4%-5% of POL is in circulation, and the introduction of sPOL will allow these idle assets to participate in DeFi yields. Users can seamlessly migrate their existing stakes to sPOL through the Polygon Staking Portal; new stakes will also automatically receive sPOL, initially at a 1:1 exchange rate, which will grow with staking rewards. sPOL supports liquidity provision, staking, and yield stacking from DeFi strategies, and users can exchange it back to POL and corresponding rewards at any time. The project is launched by Polygon Labs and audited by ChainSecurity and Certora, with initial liquidity provided by the official funding pool. The official also warns that sPOL carries risks related to smart contracts, validator behavior, and market volatility. (Source: MLion)