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.

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.

• 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.

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.

• 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.

• Enhances Ethereum’s scalability and reduces transaction fees.

• Fully interoperable with Ethereum and other blockchain ecosystems.

• Offers staking and governance opportunities for POL holders.

• 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.

• 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.

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.