# POL (ex-MATIC)

> POL (ex-MATIC) is an ERC-20 token used for staking, governance, and transactions in Polygon, a Layer-2 scaling solution for Ethereum.

- Canonical URL: https://iq.wiki/wiki/matic
- Categories: Cryptoassets
- Created: 2022-08-19T18:01:25.959Z
- Last updated: 2026-06-09T00:55:18.347Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**POL** is an [ERC-20](https://iq.wiki/wiki/erc-20) token that powers [Polygon](https://iq.wiki/wiki/polygon), a [Layer-2](https://iq.wiki/wiki/layer-2) solution, designed to help scale the [Ethereum](https://iq.wiki/wiki/ethereum) network and improve its functionality.[\[1\]](#cite-id-3p2b99puxlf)​

[YOUTUBE@VID](gd8xfxXeVHo)

## Overview

POL is [Polygon's](https://iq.wiki/wiki/polygon) native token. It is used to govern and secure the network by [staking](https://iq.wiki/wiki/staking). It's also the currency of [Polygon](https://iq.wiki/wiki/polygon) apps, enabling users to interact with hundreds of [decentralized applications](https://iq.wiki/wiki/decentralized-application) in the [Polygon](https://iq.wiki/wiki/polygon) ecosystem. As POL is an [ERC-20](https://iq.wiki/wiki/erc-20) token issued on [Ethereum](https://iq.wiki/wiki/ethereum), it can also be purchased using a variety of [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange) such as [Uniswap](https://iq.wiki/wiki/uniswap) and [Sushiswap](https://iq.wiki/wiki/sushiswap). In addition, a user can use the official [Polygon](https://iq.wiki/wiki/polygon) Bridge to exchange assets between [Ethereum](https://iq.wiki/wiki/ethereum) and [Polygon](https://iq.wiki/wiki/polygon).

POL acts as an economic investment to encourage users to contribute and participate in the [Polygon](https://iq.wiki/wiki/polygon) ecosystem. It is used to pay [validators](https://iq.wiki/wiki/validator) as a unit of exchange, and active users who have contributed to the network will receive incentives in the form of this token.

To participate in the network consensus, users must stake POL. The staked POL also serves as a form of punishment for malicious behavior, such as proposing invalid blocks, verifying blocks illegally, or executing invalid transactions, by requiring stakers to put up their stake as collateral. If a staker violates the network rules, their staked POL will be forfeited. [\[2\]](#cite-id-x9921mp3g3i) [\[6\]](#cite-id-tkqsz4a1i)​

![](https://ipfs.everipedia.org/ipfs/QmacjRx2AXW2SXiHTJsjML3PbwTg1qeUzXoAg5FLQhDeHQ)

## Tokenomics

MATIC had a fixed total supply of 10 billion tokens, with over 7.4 billion minted by August 2022. Following Polygon’s implementation of the EIP-1559 upgrade in January 2022, MATIC adopted a deflationary mechanism expected to burn approximately 0.27% of the total supply annually, or around 27 million tokens. [\[3\]](#cite-id-x4inj8wyfb) [\[4\]](#cite-id-77pgevb7teb)​

The total breakdown of the MATIC token supply was as follows:

* **Private sale (seed round + early supporters)**: 3.8%
* **Binance Launchpad**: 19%
* **Team**: 16%
* **Advisors**: 4%
* **Staking Rewards**: 12%
* **Foundation**: 21.86%
* **Ecosystem**: 23.33%

![](https://ipfs.everipedia.org/ipfs/QmREk1gpgyRHGddP9KW5cQqKpj1XW8Z1VBj9m3ZRpucXcB)

The remaining 2.5 billion MATIC tokens not in circulation were planned to be distributed over 4 years through staking rewards. [\[5\]](#cite-id-6jffxyhe2nw)​

## MATIC - POL Migration

In July 2023, [Polygon Labs](https://iq.wiki/wiki/polygon) proposed upgrading its MATIC token to a new asset called POL, which would serve as the native token across the [Polygon](https://iq.wiki/wiki/polygon) ecosystem. POL launched with a fixed supply of 10 billion tokens allocated for a 1:1 migration from MATIC. The token has a 2% annual emission rate designated for [validator](https://iq.wiki/wiki/validator) rewards and the community treasury. [Polygon](https://iq.wiki/wiki/polygon) stated that MATIC and POL cannot coexist, and the upgrade would allow POL holders to validate multiple chains with different roles and incentives.

The [Ethereum](https://iq.wiki/wiki/ethereum) contract for POL was deployed on October 25, 2023, with a migration date set for September 4, 2024. MATIC holders on [Polygon](https://iq.wiki/wiki/polygon) [PoS](https://iq.wiki/wiki/proof-of-stake) were automatically converted to POL, while those on [Ethereum](https://iq.wiki/wiki/ethereum), [Polygon](https://iq.wiki/wiki/polygon) zkEVM, or [centralized exchanges](https://iq.wiki/wiki/cex-centralized-exchange) were required to use a manual process. Following the migration, POL became the native [gas](https://iq.wiki/wiki/gas) token for all transactions on the [Polygon](https://iq.wiki/wiki/polygon) [PoS](https://iq.wiki/wiki/proof-of-stake) chain, and previously staked MATIC was upgraded as well. [\[7\]](#cite-id-ckwndexzc1) [\[10\]](#cite-id-vdw4b3imash)​