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POL (ex-MATIC)

POL (ex-MATIC) Performance

Live POL/INR Price

₹17.44

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1.64%

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₹0.286016

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1.64%

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₹16.61

24h High

₹17.92

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Virtuals protocol

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Walrus

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Waves

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Worldcoin

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Wormhole

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What is POL (ex-MATIC)?

POL is the upgraded token of the Polygon network, evolving from MATIC to address the growing needs of blockchain scalability and interoperability. The Polygon ecosystem is a Layer-2 scaling solution for Ethereum, offering faster and more cost-efficient transactions. The POL token enables staking, governance, and transaction fees, making it a vital component of the ecosystem.

Who founded Polygon?

Polygon was co-founded in 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The team introduced the network to address Ethereum’s scalability challenges. The transition from MATIC to POL represents an upgrade to expand its functionality and ecosystem.

Primary features of POL (ex-MATIC)

• Scalability: Enables faster and cheaper transactions while reducing congestion on Ethereum.

• Interoperability: Supports seamless communication between various blockchains.

• Governance: POL token holders can vote on protocol upgrades and ecosystem decisions.

• Staking: Allows users to stake POL tokens to secure the network and earn rewards.

Is POL (ex-MATIC) a promising cryptocurrency?

Polygon is a leading Layer-2 scaling solution with a proven track record, making POL a strong contender in the crypto space. Ranked among the top 50 cryptos by market cap, POL benefits from the widespread adoption of the Polygon network for decentralized applications and DeFi. Analysts predict significant growth for POL as blockchain technology adoption expands globally.

The current price of POL, as of 30 January 2025, is ₹35. You can buy POL from crypto exchanges like CoinSwitch.

How do I use POL (ex-MATIC)?

• Staking: Stake POL tokens to secure the network and earn rewards.

• Governance: Participate in protocol decision-making by voting with POL tokens.

• Transactions: Use POL tokens to pay for transaction fees within the Polygon network.

• dApp development: Build scalable decentralized applications using the Polygon ecosystem.

Pros & Cons of POL (ex-MATIC)

Pros

• Enhances Ethereum’s scalability and reduces transaction fees.

• Fully interoperable with Ethereum and other blockchain ecosystems.

• Offers staking and governance opportunities for POL holders.

Cons

• Faces competition from other Layer-2 solutions like Arbitrum and Optimism.

• Adoption depends on Ethereum’s ecosystem growth and dApp development.

• Market volatility due to its evolving token structure.

How to trade POL (ex-MATIC) on CoinSwitch ?

• Start investing in POL (ex-MATIC) with just ₹100.

• CoinSwitch provides a seamless and intuitive trading experience for all users.

• Easily manage your transactions and portfolios on the app.

POL (ex-MATIC) ICO summary

Polygon, originally known as Matic Network, did not conduct an Initial Coin Offering (ICO) for its POL token. Instead, the project transitioned from its previous token, MATIC, to POL as part of the Polygon 2.0 upgrade. This upgrade aims to enhance scalability and efficiency within the Ethereum ecosystem. The total supply of POL tokens is set at 10 billion, mirroring the supply of MATIC tokens to facilitate a seamless 1:1 migration. The token distribution is designed to support network security, governance, and ecosystem development. POL serves multiple roles within the Polygon ecosystem, including paying for transaction fees, staking to secure the network, and participating in governance decisions. This structure ensures that POL holders are integral to the network’s growth and sustainability.

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coin_iconPOL (ex-MATIC)
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Market Capquestion

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FAQ's on POL (ex-MATIC)

1. What is the difference between MATIC and POL?

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POL is the upgraded version of MATIC, designed to enhance the Polygon network’s scalability, interoperability, and governance. While MATIC was the original token, POL represents a new phase of the network to support broader functionality and ecosystem growth.

2. How can I earn rewards with POL?

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You can stake your POL tokens to secure the Polygon network and earn staking rewards. This helps support the network’s security while providing you with returns.

3. What are the key advantages of using POL tokens?

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POL tokens provide several benefits, including governance rights to vote on protocol decisions, the ability to pay transaction fees, and the opportunity to stake for rewards. Additionally, POL enhances Ethereum’s scalability and interoperability with other blockchain ecosystems.

4. What challenges does POL face in the crypto space?

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POL faces competition from other Layer-2 scaling solutions like Arbitrum and Optimism. Its adoption also depends on the continued growth of the Ethereum ecosystem and decentralized application (dApp) development.

Highlight

POL (formerly MATIC) is the upgraded token of the Polygon network, designed to support enhanced scalability, interoperability, and governance within the blockchain ecosystem.

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Pol (ex-matic) Price Statistics

POL Price Today

POL Price

₹17.44

Price Change 24h

percent_change_icon

1.64%

Price Change 7d

percent_change_icon

2.97%

Market Rank

#46

Market Cap

₹18,142 Cr.

Trade Vol 24h

₹1,077 Cr

Circulating Supply

₹1,052 Cr. POL

Trading Activity

79% Buy21% Sell

Similar Pages
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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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