POL (ex-MATIC) Coming after our contract and holder checks finish for this coin. See the Scorecard for every call so far.
What it is
POL is the token of Polygon, a group of networks built to make Ethereum-style apps cheaper and faster. The best known is Polygon PoS, a proof-of-stake chain used for payments, stablecoin transfers and many apps, which periodically records its state on Ethereum. Polygon is also building the AggLayer, a system meant to connect many separate chains so that assets and messages can move between them using cryptographic proofs.
POL replaced the older MATIC token. The swap began on September 4, 2024 at a one-to-one rate, automatically on Polygon PoS, while holders on Ethereum or elsewhere had to migrate through a contract or rely on their exchange. By 2026 the vast majority of MATIC had been converted. POL pays transaction fees on Polygon PoS, is staked by validators, and is intended to secure more chains connected through the AggLayer.
POL started with a supply of about 10 billion and adds roughly 2% new tokens a year, split between validator rewards and a community treasury, so there is no fixed maximum. Polygon Labs and the Polygon Foundation drive most development, and the token is listed on CoinGecko under the id polygon-ecosystem-token.
What can go wrong
- POL has ongoing issuance of about 2% a year with no hard cap, so holders who do not stake are diluted over time.
- Some MATIC is still unconverted; holding old MATIC in a self-custody wallet means you must migrate it yourself, and scammers have used fake "migration" sites to steal funds.
- The AggLayer vision is still being built; if it does not draw chains and users, POL's role stays largely limited to Polygon PoS.
- Polygon Labs and the foundation hold significant influence over direction and treasury spending.
If you still hold MATIC, use only the official Polygon migration portal or a major exchange to convert it. Never enter your recovery phrase on a site promising to upgrade your tokens.
Safety checks
- Track recordCautionTrading since 2024, about 2 years. It hasn't been through a full market cycle yet, so treat its history as short.
- Trading activityGood$45.6 million traded in the last 24 hours, 4.5% of its market value. That's enough activity that a normal-size order shouldn't move the price.
- Coins still to comeGood10.64 billion of 10.64 billion total coins are in circulation, so about 0% or less are still to be released. Little new supply is left to hit the market. There is no fixed maximum, so new coins can keep being created.
- Distance from its peakRed flagDown 93% from its all-time high of $1.29 in March 2024. Most people who bought near the top have lost most of their money. A big drop doesn't make a coin cheap.
- Past yearFor context−52.5% over the past year, against −25.3% for bitcoin. It has done worse than simply holding bitcoin.
History of trouble and big events
- Sep 4, 2024: MATIC began converting to POL at a one-to-one rate.
Holding a token on a smaller network, or got sent one you don't recognize? Run its address through the free checker. Copycat tokens often borrow big names.