Polygon (POL) is the new native token of the Polygon ecosystem, succeeding the widely known MATIC. In a major upgrade announced in 2023 and activated in 2024, the Polygon community approved the token upgrade from MATIC to POL, marking a new era for the network. The POL token is designed to be a hyperproductive, programmable token that enables validators to secure multiple chains within the AggLayer, Polygon’s cross-chain interoperability protocol.
🔹 The MATIC → POL Transition: What Changed?
The upgrade from MATIC to POL was a community-driven effort to expand the utility of the native asset. While MATIC was primarily used for gas fees and staking on the PoS chain, POL introduces a 10% annual emission that rewards validators for securing multiple chains, including the zkEVM and future zk-rollups. This makes POL a more versatile asset that aligns with Polygon’s vision of becoming a Layer 2 hub. Existing MATIC holders can upgrade their tokens to POL at a 1:1 ratio through a user-friendly migration contract.
🔹 Polygon zkEVM & PoS Chain
Polygon offers multiple scaling solutions, most notably the Polygon zkEVM (Zero-Knowledge Ethereum Virtual Machine) and the battle-tested Polygon PoS (Proof-of-Stake) chain. The zkEVM is a groundbreaking zero-knowledge rollup that is fully equivalent to the Ethereum Virtual Machine, enabling developers to deploy existing Ethereum smart contracts seamlessly. The PoS chain continues to provide high-speed, low-fee transactions and remains a backbone for DeFi and NFTs.
🔹 Ultra-Low Fees & High Throughput
One of Polygon's biggest advantages is its ability to process transactions at a fraction of the cost of Ethereum's mainnet. With gas fees often averaging less than $0.01 and block finality in just seconds, Polygon is the go-to network for users and developers tired of high Ethereum gas fees. This makes it ideal for micro-transactions, gaming, and high-frequency trading.
🔹 Thriving DeFi, NFT & Gaming Ecosystem
Polygon has become a powerhouse in the DeFi and NFT sectors, hosting thousands of dApps. Major protocols like Aave, Uniswap, SushiSwap, and QuickSwap operate on Polygon, offering deep liquidity and yield farming opportunities. The network also powers leading NFT marketplaces and blockchain games, with brands like OpenSea, Reddit, and DraftKings building on Polygon to leverage its scalability.
🔹 Tokenomics: POL Supply & Staking
POL has a total supply of 10 billion tokens, matching the previous MATIC supply. The token is used to pay for gas fees on the network and is staked by validators and delegators to secure the PoS chain and the AggLayer. The upgrade introduces a linear emission of 1% per year to the community treasury and 1% to validators, making POL a dynamic, yield-bearing asset. Additionally, EIP-1559 is active on the network, burning a portion of POL with each transaction, which can lead to deflationary pressure over time.
🔹 Bridging Assets to Polygon
Users can seamlessly transfer assets from Ethereum, BNB Chain, and Avalanche to Polygon using official and third-party bridges. Platforms like PortalBridge allow for frictionless movement of assets, enabling users to take advantage of Polygon's low fees and fast speeds while maintaining access to a wide range of tokens and liquidity pools across multiple chains.
🔹 How to Get POL
POL is widely available on major cryptocurrency exchanges such as Binance, Coinbase, Kraken, and SushiSwap. Users can securely store POL in wallets like MetaMask, Trust Wallet, and Ledger. If you hold MATIC, you can upgrade to POL using Polygon's official upgrade portal. By staking POL, holders can earn rewards and actively participate in securing the Polygon network, contributing to the decentralization and resilience of the ecosystem.
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