POL (ex-MATIC)

POL (formerly Matic) is the native token of the Polygon network, a Layer 2 scaling solution built to improve the Ethereum blockchain’s scalability and reduce transaction costs. Originally launched as Matic Network in 2017, the platform rebranded to Polygon in 2021, and in 2023 it introduced the POL token under the Polygon 2.0 initiative. This upgrade transitions the ecosystem into a multi-chain, highly scalable environment designed to be interoperable with other Ethereum-compatible blockchains.

POL is central to Polygon's ecosystem, used for securing the network via staking, paying gas fees, and participating in governance decisions. Validators stake POL to validate transactions and earn rewards. The shift from Matic to POL aims to enhance the network's governance mechanisms, making Polygon 2.0 a more decentralized Layer 2 ecosystem.

POL supports a wide range of Ethereum scaling solutions such as sidechains, zk-Rollups, offering developers flexibility in how they deploy decentralized applications (dApps). The transition from Matic to POL was designed to ensure a smooth evolution of Polygon’s infrastructure, emphasizing scalability, security, and sustainability for Ethereum-based applications.