MATIC is the native cryptocurrency of the Polygon network, used to pay transaction fees and secure the blockchain through staking. In 2024, Polygon introduced POL as an upgraded token to replace MATIC, bringing enhanced utility across the growing Polygon ecosystem.
What Is MATIC Used For?
When you make any transaction on the Polygon network — whether sending tokens, swapping on a DEX or minting an NFT — you pay a small gas fee in MATIC or POL. These fees are dramatically lower than Ethereum mainnet fees. The average cost to settle a transaction on Polygon is approximately $0.002, compared to $3–$50 on Ethereum during peak periods.
MATIC to POL Upgrade
Polygon announced the transition from MATIC to POL as part of its Polygon 2.0 roadmap. POL is designed to be a more versatile token that can be used to validate multiple chains within the Polygon ecosystem, not just the Polygon PoS chain. If you hold MATIC, you can migrate to POL at a 1:1 ratio.
Staking on Polygon
MATIC and POL holders can participate in the security of the Polygon network through staking. There are two main ways to stake:
- Validator staking — Run a Polygon node and stake a minimum amount to become a validator. Validators earn staking rewards for confirming transactions.
- Delegator staking — Delegate your MATIC to an existing validator without running a node. Earn a share of the validator's rewards with no minimum stake requirement.
Polygon Network Speed and Capacity
The Polygon PoS chain processes between 6,000 and 10,000 transactions per second — approximately three times the throughput of the Ethereum mainnet. This makes it one of the fastest EVM-compatible blockchains available, enabling real-time payment applications and high-frequency DeFi trading.
Polygon settles transactions instantly — yes, even on Sundays. Fast finality at a fraction of Ethereum's cost.
Where to Store Your MATIC and POL Tokens
You can store MATIC and POL in any EVM-compatible Polygon network wallet. Popular choices include MetaMask, Trust Wallet, Ledger and Coinbase Wallet. When withdrawing MATIC from an exchange, always select the Polygon network (not ERC-20 on Ethereum) to keep fees low and ensure your tokens arrive in your Polygon wallet correctly.
