Polygon launches sPOL, a liquidity staking token, to unlock native DeFi.

CoinFeed reported on April 15th that, according to Cryptopolitan, Polygon Labs launched its native liquidity staking token, sPOL, aiming to bring over 3.6 billion staked POL (approximately $330 million in idle staking capital) into the DeFi ecosystem. Users earn sPOL by staking POL at a 1:1 ratio. sPOL accumulates staking rewards over time and can be used for trading, collateralization, providing liquidity, or participating in DeFi yield strategies. Existing stakers can migrate their positions through the staking portal with no waiting period and uninterrupted rewards. Polygon Labs has committed $10 million from its own funds upon sPOL's launch and plans to subsequently add another $90 million. The sPOL pool is already live on Uniswap V4.