POL (ex-MATIC)

What is POL (ex-MATIC)?

POL is the rebranded version of MATIC, serving as the native token of the Polygon network, a Layer 2 scaling solution for Ethereum. Polygon aims to improve Ethereum's scalability and usability while maintaining security. POL functions as the network's utility and governance token, enabling fast, low-cost transactions for decentralized applications (dApps).

What Problem Does POL (ex-MATIC) Solve?

POL addresses:

• Scalability: Polygon reduces Ethereum's transaction congestion and high gas fees by using Layer 2 solutions.
• Cross-Chain Compatibility: It enables seamless interoperability between Ethereum and other blockchains.
• Low Transaction Fees: POL reduces transaction costs, making dApp interactions more affordable compared to Ethereum's mainnet.

Why Does the Crypto Market Need POL (ex-MATIC)?

POL benefits the crypto market by:

• Scaling Ethereum: POL provides Layer 2 solutions that reduce gas fees and increase throughput.
• Interoperability: POL allows projects to interact across different blockchains seamlessly.
• Expanding the dApp Ecosystem: POL powers a growing ecosystem of decentralized applications and DeFi platforms on the Polygon network.

History & Achievements

Initially launched as MATIC in 2017, Polygon quickly became one of the largest Ethereum Layer 2 solutions. In 2024, the token was rebranded as POL to reflect its evolving role in the Polygon ecosystem, marking a major transition in the project's roadmap.

Who Created POL (ex-MATIC)?

Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The team is comprised of developers and blockchain enthusiasts focused on scaling Ethereum through sidechains and Layer 2 solutions.

What Technology Does POL (ex-MATIC) Use?

POL operates using:

• Proof of Stake (PoS): Validators stake POL tokens to secure the network and process transactions.
• Polygon SDK: A flexible framework for building Ethereum-compatible blockchain networks.
• Sidechains: Polygon uses sidechains to offload transactions from the Ethereum mainnet, reducing congestion and fees.

What Affects POL (ex-MATIC) Price?

Factors influencing POL's price include:

• Adoption of Polygon Ecosystem: Increased use of dApps and DeFi platforms on Polygon boosts demand for POL.
• Ethereum Congestion: As Ethereum becomes more congested, demand for Layer 2 solutions like Polygon rises, increasing POL's value.
• Partnerships and Integrations: Collaborations with prominent blockchain projects can positively affect POL's price.

How Many Tokens of POL (ex-MATIC) Are in Circulation?

There are currently 10,259,155,118 POL tokens in circulation.

What is the Maximum Supply of POL (ex-MATIC)?

POL does not have a capped maximum supply, making it an inflationary token designed to incentivize network participation.

What is POL (ex-MATIC) Utility?

POL is used for:

• Transaction Fees: POL tokens are used to pay for transactions within the Polygon ecosystem.
• Staking and Governance: POL holders can stake their tokens to secure the network and participate in governance decisions.
• DeFi and dApp Ecosystem: POL powers the Polygon ecosystem, enabling interactions with decentralized applications and DeFi platforms.

Tokenomics of POL (ex-MATIC)

POL's tokenomics include:

• Inflationary Supply: POL's supply is inflationary, with new tokens distributed as staking rewards to validators.
• Ecosystem Incentives: POL tokens are used to incentivize developers and projects to build on the Polygon network.
• Governance: POL holders can vote on key decisions within the Polygon ecosystem, influencing protocol upgrades and changes.

What is the All-Time High and All-Time Low for POL (ex-MATIC)?

• All-Time High: $1.29 on March 13, 2024
• All-Time Low: $0.345 on August 5, 2024

Where to Buy POL (ex-MATIC)?

POL can be purchased on major cryptocurrency exchanges, including:

• Binance
• Coinbase
• Uniswap
• KuCoin

Who Invested in POL (ex-MATIC) at an Early Stage?

Polygon received early-stage investments from leading venture capital firms such as Sequoia India, SoftBank, and Mark Cuban, which contributed to its early growth and development.

What Are the Revenue Streams of POL (ex-MATIC)?

POL generates revenue through:

• Transaction Fees: Users pay transaction fees in POL to interact with the Polygon network.
• Staking Rewards: Validators earn staking rewards for securing the network.
• Ecosystem Growth: Revenue increases as more dApps and DeFi platforms utilize Polygon's infrastructure.