POL, formerly known as MATIC, is the new native token of the Polygon network. This change is part of a major upgrade to the Polygon ecosystem, bringing new features and improvements. If you’re interested in cryptocurrencies or already familiar with MATIC, here are 10 important things you should know about POL.
1. The Transition from MATIC to POL
The Polygon network is changing its native token from MATIC to POL. This change is set to happen on September 4, 2024. It’s part of a bigger plan called “Polygon 2.0” which aims to make the network better and more connected.
If you have MATIC tokens, don’t worry. They will automatically change to POL tokens. You don’t need to do anything if your MATIC is on the Polygon proof-of-stake (PoS) chain. However, if you have MATIC on other platforms like Ethereum, you might need to take some steps to change them to POL.
2. What POL Does
POL is more than just a new name for MATIC. It’s a “hyperproductive” token, which means it can do more things. Like MATIC, POL will be used to pay for transactions on the Polygon network. But it can also do new things:
- You can use POL to validate transactions on multiple chains in the Polygon network.
- It lets you take part in creating new blocks on the blockchain.
- You can use it to help with zero-knowledge proofs, which are a way to keep transactions private.
- POL holders can join Data Availability Committees (DACs) that help keep the network running smoothly.
3. How Many POL Tokens Are There?
When POL starts, there will be the same number of POL tokens as there were MATIC tokens. This number is set at 10 billion tokens. Every MATIC token will become one POL token. This means if you had 100 MATIC, you’ll have 100 POL after the change.
4. POL’s Role in the Polygon Ecosystem
POL is very important for how the Polygon network works. Here’s what it does:
- It’s used to pay for transactions on the network.
- People can stake (hold) POL to help keep the network secure and earn rewards.
- POL holders can vote on important decisions about how the network is run.
- It helps different parts of the Polygon network work together smoothly.
5. Why Polygon is Changing to POL
Polygon is changing to POL for several reasons:
- To make the network faster and able to handle more transactions.
- To improve security across all the different chains in the Polygon network.
- To give token holders more ways to use their tokens and earn rewards.
- To prepare for future upgrades and new features on the Polygon network.
6. How POL Improves on MATIC
POL brings some big improvements over MATIC:
- It can be used on multiple chains, not just one.
- It offers more ways to earn rewards by helping to run the network.
- POL is designed to work better with new technologies Polygon is developing.
- It gives users more say in how the network is run.
7. POL’s Performance and Market Position
As of February 2025, POL (still listed as MATIC on some platforms) is trading at about $0.72. It’s one of the top 20 cryptocurrencies by market value. Here are some key facts:
- Market Cap: Around $7.2 billion
- 24-hour Trading Volume: About $210 million
- All-time High: $2.92
- All-time Low: $0.003012
Remember, cryptocurrency prices can change quickly, so these numbers might be different when you read this.
8. Future Price Predictions for POL
Many experts think POL’s price will go up in the coming years. Here are some predictions:
- By the end of 2025, some think POL could reach between $1.34 and $1.57.
- Looking further ahead to 2031, some predictions say POL could go as high as $13.01.
Remember, these are just predictions. The actual price could be very different.
9. How to Get and Use POL
You can get POL in several ways:
- If you already have MATIC, it will change to POL automatically.
- You can buy POL on cryptocurrency exchanges.
- You can earn POL rewards by staking your tokens or helping to run the network.
You can use POL for:
- Paying for transactions on the Polygon network.
- Staking to earn more POL.
- Voting on network decisions.
- Using decentralized apps (dApps) on the Polygon network.
10. The Future of Polygon and POL
Polygon has big plans for the future:
- They’re working on new technologies to make the network even faster and more secure.
- They want to make it easier for different blockchain networks to work together.
- They’re focusing on making the network more environmentally friendly.
- They aim to bring more real-world uses for blockchain technology.
POL is at the center of these plans. As Polygon grows and improves, POL is likely to become even more important and useful.