MATIC is the original ticker symbol for the Polygon network's native token. While the token has been upgraded to POL as part of Polygon 2.0, the MATIC ticker remains widely used across exchanges and data platforms. The current price is approximately $0.096 USD.
MATIC Token Overview
- Token Ticker: MATIC (now POL)
- Blockchain: Ethereum (ERC-20)
- Current Price: ~$0.096 USD
- Market Cap: ~$1.02B USD
- Total Supply: 10 Billion tokens
- Launch Date: May 2020
MATIC to POL Migration
The migration from MATIC to POL officially happened on September 4, 2024. This transition was not merely a rebranding but a strategic move to align with the network's expanded capabilities and the Polygon 2.0 roadmap. The new POL token is designed to power a vast ecosystem of zero-knowledge-based Layer 2 chains.
What Was MATIC Used For?
MATIC tokens were used for payment services on Polygon and as a settlement currency between users within the Polygon ecosystem. Transaction fees on Polygon sidechains were paid in MATIC tokens. The token was also used for governance, allowing holders to vote on protocol changes.
MATIC Price Performance
Since its IEO on Binance Launchpad in April 2019, MATIC grew from a fraction of a cent to an all-time high of approximately $2.92 in December 2021. The token demonstrated the strong demand for Ethereum Layer 2 solutions. With the Polygon 2.0 upgrade and transition to POL, the token continues to evolve while maintaining backward compatibility for existing MATIC holders.
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