What is Polygon (POL)
Polygon is an Ethereum-based blockchain created to address one of its main limitations, scalability. It is also positioning itself as a reference point within a set of blockchains interconnected via Agglayer, designed to unify liquidity and share information more easily and securely.
On Polygon the gas fees — the fees needed to process transactions — are paid in the POL token, which also allows participation in the protocol’s governance. A small amount of POL is “burned” each time the network is used.
How it began: from MATIC to POL
Polygon was created in 2017 by three Indian developers with the aim of solving the scalability problem. Its crypto-asset, initially called MATIC, was launched in 2019 through an IEO on Binance. In 2021 the “Matic” project was renamed “Polygon”, evolving from a simple Layer 2 into a framework for developing scalable decentralised applications (dapps).
In September 2024 the team announced Polygon 2.0 and the official migration from MATIC to POL as the ecosystem’s token. The team coined for POL the definition of “hyperproductive token”: under this classification, validators can operate across multiple chains, each with different roles and related rewards. This is project terminology, not a guarantee on value.
Price trends and what to consider
2024 was a transition year for Polygon, marked by the migration to the POL token that began on 4 September. Like all crypto-assets, POL has shown a highly volatile price trend. Its quotations can be influenced by the general trend of the crypto market, by the adoption of the ecosystem’s networks and by the project’s technical evolution.
Past performance is not a guarantee of future results.
Polygon Market Data
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