What is Polygon (POL)
POL is the native coin of Polygon PoS, one of the most popular Ethereum-compatible networks. Polygon appeared in 2017 under the name Matic Network, and its coin was long called MATIC. In 2024 the project carried out a migration: MATIC was replaced by POL at 1:1, and POL is now used to pay for gas and staking on Polygon PoS.
Polygon PoS tackles Ethereum’s main problem — expensive, slow transactions. The network is Ethereum-compatible: it uses the same wallets, the same address format and the same smart contracts, but blocks come every couple of seconds and fees are usually cents. That’s why Polygon is used by decentralised exchanges, games, NFT platforms and large companies that need inexpensive transactions.
Key facts
| Parameter | Value |
|---|---|
| Ticker | POL (formerly MATIC) |
| Network at ROVEN exchange | Polygon PoS |
| Address format | “0x” plus 40 characters, like Ethereum |
| Block time | About 2 seconds |
| Network fee | Gas in POL, usually cents |
| Memo / tag | Not needed |
What POL is used for
- Paying gas on Polygon. Every operation on Polygon PoS is paid for in POL.
- Staking. POL holders delegate coins to validators and earn rewards.
- DeFi and games. Low fees make Polygon convenient for frequent operations.
- Cheap token transfers. USDT, USDC and other tokens on Polygon move for cents.
How to exchange POL at ROVEN exchange
- Choose a direction, for example POL → USDT TRC20 or USDT TRC20 → POL, and enter the amount.
- If you’re receiving POL, enter a wallet address starting with “0x” and make sure the wallet supports the Polygon network.
- Create the order — the rate is locked for 30 minutes — and send the exact POL amount on Polygon to the address in the order.
- Polygon produces blocks every couple of seconds, so a swap usually takes a few minutes.
What to watch out for
- POL also exists on Ethereum as an ERC20 token. At ROVEN exchange, POL is accepted and paid out on Polygon PoS specifically — select it in your wallet and when withdrawing from an exchange.
- Polygon addresses are the same as Ethereum and BNB Smart Chain addresses. Your wallet won’t warn you if you pick the wrong network.
- If you still have old MATIC on Polygon, it has already become POL; MATIC on Ethereum can be migrated through Polygon’s official portal.
- Keep a little POL in your wallet for gas if you plan to send tokens on Polygon.
The MATIC → POL migration
In September 2024 Polygon switched its economy to the new POL coin. On Polygon PoS, gas started being charged in POL straight away, and MATIC balances were automatically displayed as POL. Holders of MATIC on Ethereum were offered a 1:1 swap to POL through the official migrator. If you see MATIC in older guides, it refers to the same coin now called POL.
How to store POL
POL can be stored in any wallet that supports Polygon: MetaMask, Rabby, Trust Wallet, and the Ledger and Trezor hardware wallets. In MetaMask you can add Polygon from the built-in network list. Use only official network details and don’t sign transactions on unfamiliar sites.
Frequently asked questions
Are MATIC and POL the same coin?
POL replaced MATIC at 1:1. On Polygon PoS, MATIC balances automatically became POL.
Can I send POL from the Ethereum network?
No, for a swap send POL on Polygon PoS specifically. A transfer on another network won’t be credited automatically.
Does POL need a memo?
No. Every recipient has their own address; no memo is used.