Polygon unveils sPOL to unlock $3.6B staked POL for DeFi

Polygon launches sPOL, a liquid staking token unlocking 3.6B staked POL for DeFi. sPOL offers instant liquidity, staking rewards, fee sharing, and $100M in treasury support.

Polygon Labs has introduced sPOL, its first native liquid staking token, to address the challenge of idle staked POL on the network. Currently, over 3.6 billion POL are staked, but only 4–5% are available in liquid form. sPOL allows users to convert locked POL into a liquid, tradable token at a 1:1 ratio, enabling continued staking rewards while using sPOL across DeFi protocols for liquidity, collateral, or yield strategies. sPOL can be redeemed for POL plus rewards at any time, with no lock-up periods. The launch is backed by $100 million in treasury support, with 10 million POL seeded for liquidity on day one and plans to add 90 million more. The contract has been audited by ChainSecurity and Certora, and Uniswap V4 AMM pools are live to provide immediate liquidity. Additionally, the initiative introduces a mechanism for sharing network priority fees with delegators, aiming to enhance staking returns and improve capital efficiency on Polygon.