by Matthew Russell - Posted seconds ago
Welcome, my CryptoComics Compatriots, today we’re digging into the history of POL, the main token behind Polygon’s newest evolution. Before we get to how POL helps digital collectables and creators, we need a clear understanding of where this token came from and why Polygon built it.
The history behind POL shows how fast blockchain technology changes, how ecosystems adjust to new ideas, and how one of the world’s most popular scaling networks transformed to meet growing demand.
Polygon did not begin as the multi-chain project we know today. In 2017 the project launched as Matic Network, created by an engineering team trying to solve Ethereum’s slow speeds and high fees.
In early reports summarized by outlets like CoinDesk, the founders described Matic as a Layer 2 system designed to process large batches of transactions off-chain, then send the results back to Ethereum. Over time, as more decentralized apps and games began using it, the network became one of Ethereum’s busiest scaling solutions.
Even after its 2021 rebrand from Matic Network to Polygon, the token name MATIC remained the same.
Polygon’s next major step began when the team announced Polygon 2.0, a long-term plan to expand the network into an entire ecosystem of interconnected chains. In the Polygon 2.0 announcement, covered in detail by publications such as The Block, the developers explained that Polygon’s future would rely on zero-knowledge technology to connect many chains together.
Instead of one busy network, they envisioned a family of chains that shared security and speed.
This larger design required a new kind of token. MATIC wasn’t built for multi-chain staking or for a validator system that worked across several networks at once. Polygon needed a token that could scale with its new architecture and support a wider set of responsibilities.
To solve that need, Polygon introduced POL in July 2023. In the POL whitepaper, which analysts at Decrypt explored when the token was announced, Polygon described POL as a “next-generation protocol token.”
It was designed to replace MATIC one-to-one, but with expanded capabilities. POL was built to support a system called restaking, where validators can use the same token to help secure multiple Polygon chains.
This shift marked a major difference between MATIC and POL. MATIC was tied to a single chain’s staking system. POL is meant to support a full ecosystem. This makes POL more flexible and better suited for long-term upgrades, governance, and multi-chain security.
The migration from MATIC to POL officially began in 2024. According to reports from CoinTelegraph covering Polygon’s roadmap, the transition started on September 4, 2024. Much of the migration happened automatically behind the scenes.
Exchanges, staking services, and many smart contracts updated from MATIC to POL without users needing to take action.
For people holding MATIC in personal wallets, Polygon released a one-to-one swap method with no expiration date. Polygon’s public documentation made it clear that the migration would take several years, giving users plenty of time and ensuring no loss of value.
By 2025, major cryptocurrency platforms and databases, including Investopedia and CoinGecko Research, began listing POL as Polygon’s primary token. These sources explain that POL is now used for gas fees, staking, protocol decisions, and restaking across the entire Polygon 2.0 ecosystem.
Understanding what POL does today helps explain why Polygon created it in the first place. POL is now the token that powers Polygon’s multi-chain structure. Validators stake POL to secure chains. Developers use POL to pay gas fees.
Community members use POL in governance processes. And thanks to restaking, validators can support several chains at once, something MATIC was never built to do.
Articles from Investopedia highlight that POL’s design is aimed at long-term flexibility rather than being tied to a single network. This allows Polygon to grow into a broader system of chains without constantly redesigning its token economy.
Looking at the history of POL shows how technology evolves to solve real problems. Polygon needed faster systems, stronger security models, and a token that could handle the needs of a multi-chain world.
Instead of forcing users to learn a new system or buy new assets, Polygon created a one-to-one migration path. This protected existing holders and encouraged steady adoption.
It also shows how blockchain upgrades respond to real-world use. Polygon’s role in gaming, finance, and digital collectables pushed the team to design a token that could keep up with demand. POL exists because the network needed room to grow.
The story of POL is still developing as Polygon 2.0 continues rolling out new tools, new chains, and new applications that rely on POL for security and governance. Now that we’ve explored the history behind this token, the next logical step is to connect it to the world we care about most.
In our follow-up article, “POL and Comics,” we’ll look at how this technology supports digital collectables, lowers costs for creators, and opens new opportunities for indie publishers on platforms like CryptoComics.
