What is POL (ex-MATIC) (POL)?
POL (ex-MATIC) is the native token of the Polygon ecosystem, one of the largest Ethereum scaling platforms. Polygon provides fast, low-cost transactions through multiple technologies including a proof-of-stake sidechain, zkEVM rollup, and the AggLayer. POL serves as the gas and staking token across the Polygon network.
Key Facts
What is POL (ex-MATIC)?
POL (formerly MATIC) is the native token of the Polygon ecosystem, a suite of Ethereum scaling solutions. Polygon provides multiple approaches to scaling including Polygon PoS (a proof-of-stake sidechain), Polygon zkEVM (a zero-knowledge rollup), and the AggLayer (an aggregation layer for cross-chain interoperability). The network processes millions of transactions daily at a fraction of Ethereum mainnet costs, making smart contracts accessible to a wider audience.
Polygon was born from the recognition that Ethereum, while being the most widely used smart contract platform, faces significant scalability limitations. High gas fees and slow transaction times during peak usage made many applications impractical for everyday users.
Polygon addresses this by offering multiple scaling technologies that inherit Ethereum's security while providing dramatically improved performance.
The Polygon ecosystem hosts thousands of decentralized applications across DeFi, gaming, NFTs, and enterprise use cases. Major protocols like Aave, Uniswap, and Curve have deployed on Polygon, and companies including Starbucks, Nike, and Reddit have used Polygon for their Web3 initiatives.
Who Created Polygon?
The Founders
Polygon was co-founded in 2017 as Matic Network by three Indian entrepreneurs: Jaynti Kanani (CEO), Sandeep Nailwal (COO), and Anurag Arjun (CPO). The team later brought on Mihailo Bjelic as a fourth co-founder. Based in Mumbai, India, the founders had backgrounds in software development and blockchain technology.
The project rebranded from Matic Network to Polygon in February 2021 to reflect its expanded vision beyond a single scaling solution.
Growth & Expansion
After launching the Matic PoS chain in 2020, Polygon aggressively expanded through acquisitions, acquiring Hermez Network (zkEVM technology), Mir Protocol (zero-knowledge proofs), and other zero-knowledge teams. These acquisitions formed the basis for Polygon zkEVM and the broader Polygon 2.0 vision announced in 2023, which introduced the POL token and AggLayer architecture.
Key Milestones
- • 2017: Matic Network founded in Mumbai, India
- • 2019: Matic Network IEO on Binance Launchpad; mainnet beta launch
- • 2021: Rebranded to Polygon; multiple ZK acquisitions
- • 2023: Polygon 2.0 roadmap announced with POL token
- • 2024: MATIC to POL token migration completed
How Polygon Works
Polygon provides multiple approaches to scaling Ethereum, each optimized for different use cases. All solutions share the common goal of making Ethereum transactions faster, cheaper, and more accessible.
Polygon PoS (Proof-of-Stake Chain)
Polygon PoS is a commit chain (sidechain) that runs alongside Ethereum. It uses a set of validators who stake POL tokens to secure the network and produce blocks. Transactions on Polygon PoS cost fractions of a cent and confirm in about 2 seconds. The chain periodically checkpoints its state to Ethereum mainnet for security.
Polygon PoS has processed billions of transactions and hosts the largest ecosystem of dApps in the Polygon network.
Polygon zkEVM
Polygon zkEVM is a zero-knowledge rollup that is fully EVM-equivalent — meaning existing Ethereum smart contracts can be deployed without modification. It batches transactions off-chain, generates zero-knowledge proofs of their validity, and submits these proofs to Ethereum mainnet. This provides Ethereum-level security with much lower fees and higher throughput.
AggLayer
The AggLayer (Aggregation Layer) is Polygon's vision for a unified cross-chain ecosystem. It aggregates zero-knowledge proofs from multiple chains, enabling seamless interoperability between Polygon chains and beyond. The AggLayer aims to make bridging between chains as simple as transacting on a single chain.
Token Economics
POL has a total supply of 10 billion tokens, migrated 1:1 from the original MATIC token. POL serves as the native gas token on Polygon PoS, the staking token for validators, and is designed to serve as the universal token across all Polygon chains via the AggLayer. Validators stake POL to secure the network and earn block rewards plus transaction fees.
MATIC to POL Migration
In September 2024, Polygon completed the migration from MATIC to POL as the native token of the ecosystem.
The migration from MATIC to POL was a key part of Polygon 2.0, the protocol's vision for a unified multi-chain ecosystem. POL was designed as a 'hyperproductive' token that can be staked across multiple Polygon chains simultaneously through the AggLayer, unlike MATIC which could only be staked on the PoS chain.
The migration was a 1:1 swap — each MATIC token converts to exactly one POL token. On Polygon PoS, the migration happened automatically. For MATIC held on Ethereum, users can swap through the official migration contract. Most major exchanges handled the migration automatically for their users.
Why POL Has Value
POL derives value from its role as the native token of one of the largest Ethereum scaling ecosystems. It is required for transaction fees on Polygon PoS, validator staking, and governance participation. As the ecosystem grows, demand for POL increases proportionally.
Polygon's partnerships with major companies (Starbucks, Nike, Reddit) and integration with top DeFi protocols (Aave, Uniswap, Curve) create real economic activity that drives token demand. The network consistently ranks among the top blockchains by active addresses and transaction volume.
The transition to POL and the AggLayer architecture positions Polygon as a potential aggregation point for multiple scaling solutions, which could significantly increase the token's utility and demand if the vision succeeds.
How to Buy POL
POL is one of the most widely available cryptocurrencies. Here is how to buy it:
1Compare providers
POL is listed on virtually all major exchanges including Binance, Coinbase, Kraken, OKX, and many more. Compare fees, payment methods, and trading features on coinvela to find the best option for your needs.
2Create an account
Create an account on your chosen exchange and complete identity verification (KYC). This typically requires a government-issued ID and takes a few minutes to a few hours.
3Fund your account
Add funds via bank transfer, credit/debit card, or by depositing existing cryptocurrency. Bank transfers are usually cheapest; cards are fastest.
4Buy POL
Navigate to the POL trading page, enter the amount you want to buy, review the price and fees, and confirm your order. You can place a market order (buy immediately) or a limit order (set your price).
5Withdraw to Your Wallet (Optional)
For long-term holding or using Polygon dApps, consider withdrawing your POL to a personal wallet like MetaMask. Make sure to select the correct network (Polygon PoS or Ethereum) when withdrawing.
Next step: Compare POL prices across exchanges to find the best price.
How to Store POL
Wallet Options
POL can be stored in several types of wallets:
- • Software wallets: MetaMask (browser/mobile), Trust Wallet, and Rabby offer easy access to POL and the Polygon ecosystem. MetaMask is the most popular choice for interacting with Polygon dApps.
- • Hardware wallets: Ledger and Trezor devices support POL on both Ethereum and Polygon networks. Best for large holdings.
- • Exchange wallets: Keep POL on the exchange for easy trading. Convenient but you don't control your private keys.
Hardware Wallets
For maximum security, store your POL on a hardware wallet. Ledger devices support POL natively through Ledger Live, and Trezor supports POL as well. Hardware wallets keep your private keys offline, protecting against hacks and malware.
Protect Your Recovery Phrase
Your recovery phrase (seed phrase) is the master key to your POL wallet. Write it down on paper and store it in a secure, offline location. Never share it with anyone or store it digitally. If you lose your seed phrase and your device fails, your POL will be permanently lost.
How to Use POL (POL)
Decentralized Applications
Polygon hosts a massive ecosystem of DeFi applications, NFT marketplaces, gaming platforms, and more. Use POL to interact with protocols like Aave (lending), Uniswap (trading), and QuickSwap (Polygon-native DEX). POL is used for gas fees on every transaction.
Staking for Rewards
POL holders can stake their tokens with validators to earn staking rewards. You can delegate your POL to a validator through the Polygon staking portal. Staking helps secure the network and earns approximately 4-5% annual yield.
Trading
POL is actively traded on virtually all major exchanges. It can be traded against USD, BTC, ETH, and many other pairs. High liquidity means tight spreads and easy execution for most trade sizes.
Risks
POL, like all cryptocurrencies, carries significant risks. The token price is volatile and can decline substantially. Polygon faces competition from other Ethereum scaling solutions (Arbitrum, Optimism, Base). The migration from MATIC to POL introduced execution risk. Smart contract vulnerabilities in the bridge or staking contracts could potentially impact funds.
Never invest more than you can afford to lose.
Key People Behind Polygon
Polygon was built by experienced entrepreneurs and engineers:
Sandeep Nailwal
Co-founder and COO of Polygon. Sandeep has been the most public-facing co-founder, leading business development, partnerships, and fundraising. He also launched Symbolic Capital, a crypto VC fund, and has been active in philanthropy including COVID-19 relief efforts in India.
Jaynti Kanani
Co-founder and CEO of Polygon. Jaynti is the primary technical architect, leading the development of Polygon's core infrastructure including the PoS chain and zkEVM. He previously worked as a data scientist and was an early contributor to the Ethereum ecosystem.
Brendan Farmer
Co-founder of Polygon Zero (acquired) and key contributor to Polygon's zero-knowledge technology stack. Brendan leads the development of Plonky2 and other ZK proving systems that power Polygon zkEVM and the AggLayer.
Regulation Overview for POL
Regulatory Classification
POL is the native cryptocurrency of the Polygon blockchain ecosystem. Like most utility tokens powering blockchain networks, it is generally treated as a digital asset rather than a security in most jurisdictions, though regulatory classification continues to evolve globally.
Regulation by Jurisdiction
POL's regulatory treatment varies by country:
United States: POL (MATIC) is widely available on regulated US exchanges including Coinbase and Kraken. The SEC has not specifically classified POL, but its availability on regulated platforms suggests current compliance. US investors must report crypto gains to the IRS.
Canada: POL is available on Canadian exchanges regulated by provincial securities commissions and registered with FINTRAC. Canadian investors must report crypto transactions to the CRA.
European Union: Under MiCA regulations, POL would likely be classified as a crypto-asset. It is widely available on regulated European exchanges and subject to standard crypto-asset reporting requirements.
Australia: POL is available on Australian exchanges regulated by AUSTRAC. The ATO treats crypto assets as property subject to capital gains tax. POL is widely accessible to Australian investors.
POL is one of the most widely listed cryptocurrencies globally. As one of the top tokens by market cap, it benefits from broad exchange support and regulatory familiarity.
FAQs About POL (ex-MATIC) (POL)
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