What is Polygon?
Polygon (formerly MATIC) is a leading Ethereum scaling solution that provides faster and cheaper transactions while inheriting Ethereum's security. The native token was migrated from MATIC to POL in September 2024.
Polygon offers multiple scaling solutions including Polygon PoS (the most used sidechain), Polygon zkEVM (a zero-knowledge rollup), and Polygon CDK for building custom ZK-powered chains. This multi-chain approach positions Polygon as a comprehensive scaling ecosystem.
POL is the native token used for gas fees, staking, and governance across the Polygon ecosystem. Major projects including Aave, Uniswap, and hundreds of others deploy on Polygon for its low costs and high throughput.
POL Tokenomics
POL replaced MATIC in a 1:1 migration in September 2024. The initial supply is 10 billion tokens with a 1% annual emission rate for staking rewards and community treasury. POL is designed to be a 'hyperproductive' token that can be staked across multiple Polygon chains simultaneously.
POL Historical Price Performance
Originally launched as MATIC in 2019, the token traded below $0.02 until early 2021. DeFi growth on Polygon drove MATIC to $2.92 in December 2021. After rebranding to POL in 2024, the project has focused on ZK technology and its vision of an interconnected network of ZK-powered chains.
Frequently Asked Questions
MATIC was migrated to POL in September 2024 in a 1:1 swap. POL is designed to support Polygon's expanded multi-chain ecosystem, allowing staking across multiple Polygon chains simultaneously.
Polygon zkEVM is a zero-knowledge rollup that provides Ethereum-equivalent execution with the security of ZK proofs. It offers lower fees than Ethereum L1 while maintaining full EVM compatibility.
Polygon offers Ethereum compatibility with significantly lower fees (fractions of a cent) and faster transactions (2 seconds). It's the go-to scaling solution for DeFi, gaming, and NFT projects that need Ethereum security at lower cost.
Yes, POL can be staked on the Polygon PoS network to earn approximately 4-5% APY. The POL upgrade enables future multi-chain staking across the Polygon ecosystem.
What happened to MATIC?
MATIC was migrated to POL in September 2024 in a 1:1 swap. POL is designed to support Polygon's expanded multi-chain ecosystem, allowing staking across multiple Polygon chains simultaneously.
What is Polygon zkEVM?
Polygon zkEVM is a zero-knowledge rollup that provides Ethereum-equivalent execution with the security of ZK proofs. It offers lower fees than Ethereum L1 while maintaining full EVM compatibility.
Why do people use Polygon?
Polygon offers Ethereum compatibility with significantly lower fees (fractions of a cent) and faster transactions (2 seconds). It's the go-to scaling solution for DeFi, gaming, and NFT projects that need Ethereum security at lower cost.
Can you stake POL?
Yes, POL can be staked on the Polygon PoS network to earn approximately 4-5% APY. The POL upgrade enables future multi-chain staking across the Polygon ecosystem.
Risk Warning
Cryptocurrency prices are highly volatile and can change rapidly. The information on this site is provided for informational purposes only and does not constitute financial, investment, or trading advice.