The POL token (formerly MATIC) is the native coin of the Polygon network, introduced as part of the ambitious Polygon 2.0 roadmap. POL serves as the ecosystem's gas token, staking asset, and governance instrument — powering a vast infrastructure of zero-knowledge-based Layer 2 chains.

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POL will gradually replace MATIC over a 4-year transition period, consolidating the token's role as the central asset across all Polygon network chains.

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MATIC to POL Migration

The official MATIC-to-POL migration launched on September 4, 2024. Token holders could convert their MATIC to POL at a 1:1 ratio through the official migration portal. The transition was not merely a rebranding exercise — it represents a strategic realignment with Polygon 2.0's expanded multi-chain capabilities and the network's GigaGas roadmap targeting real-world scale.

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POL Token Utility

POL carries three core utility functions within the Polygon ecosystem. First, it serves as the native gas token, meaning all transactions across Polygon chains are denominated and settled in POL. Second, validators must stake POL to participate in securing the network, earning staking rewards in return. Third, POL holders gain governance rights, allowing them to vote on protocol upgrades and ecosystem proposals.

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The POL contract address on Ethereum is: 0x455e53cbb86018ac2b8092fdcd39d8444affc3f6. This ERC-20 token can be added to MetaMask and compatible wallets to track holdings and participate in DeFi protocols built on Polygon.

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POL in DeFi

POL is used extensively in decentralized finance applications deployed on the Polygon network, including Uniswap, Aave, and PoolTogether. These protocols benefit from Polygon's high transaction throughput — achieving block confirmation times under two seconds — and significantly lower fees compared to Ethereum mainnet.

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Related Topics: MATIC Price Today  |  MATIC Market Cap