I am not a developer so I will likely say some things wrong here to which I apologize.
Matic is the gas token of the Polygon network. Buyers/investors/holders of this token are the ones that support the network, pay the bills, and use the network. Many have taken on significant risk in order to fund Polygon Lab’s efforts. Polygon zkEVM proposes to ditch Matic as the gas token. It retains Matic in some currently unknown role and for running a validator (from what I’ve read). This announcement has caused the value of Matic to crash from $1.52 on Feb 17th, 2023, to $0.87, while ETH has risen in the same period from $1694 to $1820.
Matic is the governance token of the Polygon network, much like shares in companies, the holders/owners of Matic make the decisions that guide the company, in this case Polygon Labs. This decision by Polygon Labs that has caused the price of Matic to dump, damaging their investors. As Polygon Labs has switched over to focusing on zkEVM, it is likely that the value of Matic will continue to decline as people lose faith in the token. Eventually, it could be forseen that it becomes nearly worthless.
This also betrays many of the employees, dapp developers, etc. of Polygon who hold/own/are paid bonuses in Matic. All of whom have suffered. I hope every employee of Polygon Labs has lost somewhat from this because that means they are invested in Polygon.
I would first propose that the CEO of Polygon Labs and the Polygon Foundation be dismissed. It is clear that they are working against Matic holders (the shareholders) and all stock options (or their equivalent be seized).
I would then propose that new CEO’s be inserted that understand that the Matic token is the token of Polygon with the order from the Shareholders to be to ensure that Matic plays an important role in zkEVM either as the gas token or as a staking token which accumulates ETH paid as fees.
As a Matic holder who has six figures of Matic, I feel quite betrayed here. I assume other Matic holders also feel this way. We cannot change the past, but much like a company as shareholders we can change the management and give them directives to make a better future. Let us not let Polygon become a network taken over by CEO’s that are focused on themselves rather than rewarding the people who paid for their success. This proposal to use ETH as the main token of Polygon after they themselves sold us Polygon to profit is ridiculous and a stab in the back.
Long-term I would like half of executives wages to be paid in a fixed amount of Matic so they are directly hit by their decisions.
Should it be impossible to dismiss the CEO’s, simply forcing zkEVM to use Matic for gas would be sufficient. Redirect a % of gas used towards purchasing ETH if it’s needed for L1 block space.