Buy Polygon

Polygon is a network designed to make Ethereum transactions faster and cheaper, and POL is the cryptocurrency that powers it. It is widely used to scale Ethereum, helping apps run more quickly and at lower cost.

It helps to separate two names. Polygon is the network and project, while POL is its native cryptocurrency. POL was previously known as MATIC, and the project moved to the new POL token in 2024. People often still refer to it as MATIC, but POL is now the current token.

Polygon works alongside Ethereum as a scaling solution. Ethereum is secure and widely used, but it can become slow and expensive when busy. Polygon helps by processing transactions more efficiently and at lower cost, while remaining closely connected to Ethereum. It is compatible with Ethereum's tools, which makes it popular with developers building decentralised applications, including in decentralised finance (DeFi) and gaming.

What is Polygon used for?

Polygon is mainly used to make transactions and apps on Ethereum faster and cheaper. POL is the asset used to pay fees, secure the network through staking, and support the Polygon ecosystem.

POL is used to:

• pay transaction fees, often called gas, on the Polygon network
• stake and help secure the network, with the chance to earn rewards
• support the wider Polygon ecosystem and its applications

Polygon runs on a Proof of Stake system. Instead of mining, holders can stake their POL to help secure the network and earn rewards. This approach is designed to be fast and energy-efficient, with low transaction costs compared with using Ethereum directly.

POL launched with a supply matching the earlier MATIC token, at around 10 billion. Under Polygon's newer design, a small amount of new POL can be created over time to reward those who help secure the network and to support the ecosystem, which means the supply can grow gradually rather than being fixed.

The history of Polygon

Polygon launched in 2017, originally under the name Matic Network, founded by a team including Sandeep Nailwal. It was created to help solve Ethereum's challenges around speed and cost, at a time when the network was becoming increasingly popular and congested.

Over time, the project rebranded to Polygon and expanded its goals beyond a single scaling solution. In 2024, it carried out a major upgrade, migrating its native token from MATIC to POL on a one-to-one basis. You can read more in our guide to the move from MATIC to POL, and find further information on the official Polygon website.

In 2026, Polygon has shifted much of its focus toward payments. This includes building out payments infrastructure, supporting stablecoins, and rolling out ecosystem upgrades, along with performance improvements designed to support much higher transaction speeds of up to 5,000 or more payments per second.

Since launching, Polygon has become one of the most widely used networks connected to Ethereum, supporting a large range of applications. People buy POL for many reasons, including using Polygon applications, staking, paying network fees, or gaining exposure to the Polygon ecosystem.