Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong.

MATIC to POL: Polygon's Crypto Gets a Makeover

Polygon MATIC changes to POL. We have all the information you need.

In this article...

  • Polygon rebrands its native token.
  • Understand the changes and implications.
  • Keep up with the evolving crypto space.
matic to pol, ploygon, POL

On September 4th, Polygon upgraded its current token to POL. This is the first step towards POL being used across multiple Polygon chains. For now, POL will replace MATIC as the token used for gas fees and staking on the Polygon PoS network.

If you hold MATIC on the Polygon PoS network, you don't need to do anything. The upgrade will happen automatically. If you hold MATIC on Ethereum, Polygon zkEVM, or a centralised exchange, you might need to take action to upgrade your if you wish to do so.

CoinJar has for our customers to change MATIC to POL.

Why the change?

MATIC, the native token of the Polygon network, is being replaced by POL as part of a larger upgrade called Polygon 2.0. This transition is a strategic move with several reasons behind it:

Enhanced functionality

POL will have expanded utility within the Polygon ecosystem, including governing the network, participating in decision-making, and potentially unlocking new features and use cases.

Unified token

Polygon currently has multiple scaling solutions (PoS, zkEVM), each with its own tokenomics. POL aims to unify these under a single token, removing the complexity from the user experience and creating a more cohesive ecosystem.

Future-proofing

The cryptocurrency landscape is rapidly evolving. POL is built with flexibility in mind, enabling it to adapt to future technological advancements and emerging trends within the blockchain space.

Improved tokenomics

The goal is to create a more sustainable and rewarding system for token holders and validators, ultimately contributing to the long-term growth of the network.

Marketing and branding

Rebranding to POL provides an opportunity for Polygon to refresh its image, attract new users, and communicate its evolving vision as an established player in the layer-2 scaling solutions space.

In essence, the change is a reflection of Polygon's ambition to become a more comprehensive, scalable, and user-friendly platform for decentralised applications and blockchain innovation. It's a step towards a future where Polygon plays a central role in the broader adoption of blockchain technology.

What happens to my MATIC?

If your MATIC is on Polygon, you don't have to do anything! Your MATIC will automatically transform into POL on September 4th.

If your MATIC is elsewhere, Polygon has instructions for how to swap it for POL. It's a little more involved, but still pretty user-friendly.

Should investors be worried?

Think of it like a company changing its logo – the core product is still the same, just with a fresh look and some improvements under the hood. The value of your holdings should remain the same, just represented by a different token. Although you should bear in mind market value fluctuations.

Polygon is aiming to become the "internet of blockchains" – a hub where different blockchains can connect and work together. POL is a big part of that vision. It's designed to be the fuel that powers this interconnected network, making the whole crypto world more efficient and accessible.

Conclusion: MATIC to POL

This change shows how projects like Polygon are constantly looking for ways to improve. It's important to stay informed, but there's no need to worry.

what's hapening with matic?, matic to pol, POL, polygon

Frequently asked questions

What is the Polygon (MATIC) to POL migration?

Polygon is upgrading its token to POL. It's like a major software update that will improve the Polygon network's capabilities, including scaling, protection, and functionality.

Will the price be affected by the migration to POL?

The migration itself should not directly affect the overall value of your holdings. Your MATIC will be converted to POL at a 1:1 ratio. However, market sentiment and speculation around the upgrade could influence the MATIC price in the short term.

How will POL improve upon the existing network?

POL will enable efficient transaction speeds, competitive fees, and enhanced protection. It's designed with an aim to be a more efficient and powerful scaling solution for Ethereum and other blockchains.

Is there a deadline to swap to POL?

The official swap date is September 4th. However, even after this date, you should still be able to swap your MATIC for POL. Check Polygon's official channels for the most up-to-date information.

Where can I buy Polygon (MATIC) before the POL migration?

You can buy MATIC on various cryptocurrency exchanges. Remember to compare prices and choose a reputable platform like CoinJar. Look for exchanges with the most competitive prices and fees to maximise your investment.

Will the circulating supply of MATIC change with the migration to POL?

The total circulating supply will remain the same. Each MATIC token will be swapped for one POL token. However, POL will have different tokenomics (rules governing its supply and distribution) that may affect its long-term value.

Is POL a good investment in 2024?

The potential of POL as an investment depends on various factors, including market trends and your individual risk tolerance. Do thorough research and consider seeking advice from a financial professional before making any investment decisions.

How long has the MATIC network been around?

The MATIC network, now Polygon, has been around since 2017. It has quickly grown into a popular scaling solution, handling millions of transactions every 24 hours.

Standard Risk Warning The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances;

UK residents are required (in accordance with local legislation) to complete an appropriateness assessment to show they understand the risks associated with what crypto/investment they are about to buy and enabling CoinJar to categorise them as an investo

The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provi

Standard Risk Warning  In the UK, it’s legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular

coinjar author, best crypto exchange
CoinJarCoinJar is one of the longest-running cryptocurrency exchanges in the world. Since 2013, we’ve helped hundreds of thousands of people worldwide to buy, sell and spend billions of dollars in Bitcoin, Ethereum and dozens of other cryptocurrencies.

Suggested Articles

what is bitcoin?, best crypto exchange,
Bitcoin

What is Bitcoin (BTC)? What is "Digital Gold" Used For?

What is Bitcoin? It is a digital currency that can be traded, exchanged, and used as a form of payment independent of central banks and governments.
what is ethereum, what is eth, what is ethereum mainnet
Crypto

What is Ethereum? What is ETH Used For?

Ethereum is a decentralised blockchain-based open-source software platform that allows for the development of decentralised applications (dApps).
what is crypto, what is cryptocurrency
Crypto

What Is Crypto? How do Cryptocurrencies Work?

Crypto has become incredibly popular. But how does this digital currency work? And are there cryptos other than Bitcoin?

Browse by topic

CoinJar
Company
Support
Legal
Crypto on CoinJar
App storeApp store

Your information is handled in accordance with CoinJar’s .

Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

Apple Pay and Apple Watch are trademarks of Apple Inc. Google Pay is a trademark of Google LLC.

This site is protected by reCAPTCHA and the and apply.

CoinJar logo
CoinJarGet the app.
Install app