From MATIC to POL: Understanding Polygon’s Major Upgrade

You might have opened your portfolio or a price tracker and spotted something odd. The MATIC ticker is gone and you are seeing POL instead.

If you parked your tokens in cold storage, or simply stepped away from crypto for a while, this can feel alarming. You might be wondering if you missed a signal or if your MATIC has disappeared.

It has not. Your assets are still there. What you are seeing is the result of a major upgrade that turned Polygon from a single scaling solution into a broader network of connected blockchains.

The shift from MATIC to POL

In September 2024, Polygon completed a technical migration that retired the MATIC token and introduced POL. This was not a simple name change. It was a full redesign of how value and security work across the Polygon ecosystem, often grouped under the label Polygon 2.0.

MATIC had been in place since 2017. It worked well when Polygon was mainly known for one Proof-of-Stake chain often treated as a sidechain to Ethereum.

Over time, Polygon added zero-knowledge (ZK) rollups, new chains for specific applications, and other scaling tools. The original token model was no longer enough for what the project wanted to build.

Why the upgrade was necessary

The main reason for the move to POL is a system Polygon calls the AggLayer, short for Aggregation Layer.

You can think of today’s blockchains like separate islands. To move assets between them, you usually have to cross slow, costly bridges and deal with different security assumptions each time.

Polygon’s goal is to link these “islands” so they feel like one connected network. The AggLayer is designed to provide that shared layer of security and liquidity.

POL is the token that powers this setup. While MATIC mostly secured the Polygon Proof-of-Stake chain, POL is built to be “hyperproductive.” In practice, this means:

• Validators can stake POL to secure several Polygon chains at once.
• They can earn rewards from multiple chains at the same time.
• Developers do not need a separate security token for every new chain that launches under Polygon’s umbrella.

This design is meant to support an ecosystem of many chains that still feel like one network to the end user.

Real-life examples: POL in action

If you are already using the Polygon network, the switch to POL changes the ticker and some wording. The way you use the network will feel much the same.

• Gas fees: Where you used MATIC to pay for swaps, NFT purchases, or transfers on Polygon, you now use POL. Transaction fees are still low, in line with other Ethereum Layer 2 solutions.
• Staking rewards: Users who help secure the network now stake POL instead of MATIC. Because of the hyperproductive model, validators can earn rewards from more than one Polygon chain at a time, tied into the AggLayer.
• Governance: POL holders can vote on protocol changes, upgrades, and treasury decisions. This helps keep the network decentralized and gives holders a say in how Polygon evolves.

What happened to your MATIC?

What you need to do, if anything, depends on where you held your tokens at the time of the migration.

Tokens held on the Polygon network

If you held MATIC directly on the Polygon Proof-of-Stake network, the change was automatic.

On September 4, 2024, the key smart contracts were upgraded and your MATIC balance was updated to show POL at a 1:1 ratio. You do not need to take any extra steps for those tokens.

Tokens held on centralized exchanges

You can’t buy MATIC on CoinJar, and CoinJar USA was launched after MATIC was retired. So you won’t need to act.

Tokens held on Ethereum (ERC‑20)

This is where many users still need to pay attention.

If you hold “legacy” MATIC as an ERC‑20 token on the Ethereum mainnet, such as in a Ledger or MetaMask wallet pointed to Ethereum rather than Polygon, those tokens probably did not convert on their own.

To upgrade these tokens, you generally need to use the official Polygon Portal and swap ERC‑20 MATIC to ERC‑20 POL. The swap runs as a normal Ethereum transaction.

That means:

• You must connect a compatible wallet that holds your ERC‑20 MATIC.
• You will need some ETH in the same wallet to pay Ethereum gas fees.

Always confirm you are using the official Polygon site or links from Polygon’s verified channels before you start the process.

Security and risks

Major token upgrades are a perfect time for scammers to step in. Confusion gives them room to trick people into signing the wrong transaction or visiting a fake site.

These scams can continue for years after the initial migration.

Red flags to watch for

• Fake migration sites: Scammers often buy ads on search engines for phrases like “Swap MATIC to POL” or “Polygon token upgrade.” The sites can look almost identical to the real one, but connecting your wallet can give them control over your funds.
• Fake “support” messages: Neither Polygon nor reputable exchanges will reach out in private messages to ask you to “verify” or “sync” your wallet so you can receive POL. Treat any unsolicited DM offering help with your migration as a scam.
• High-pressure tactics: Claims that your tokens will be burned or lost forever in a matter of hours are a classic warning sign. Real deadlines, if they exist, are shared in advance on official websites, blogs, and social channels, not through random DMs.

To reduce your risk:

• Type the official Polygon URL directly into your browser instead of clicking links from emails, ads, or social posts.
• Double check links from community forums against Polygon’s official documentation.
• Review every transaction in your wallet carefully before you sign it.

The future of Polygon

The move from MATIC to POL is Polygon’s bet on a multi-chain future where many blockchains need to interact smoothly.

Polygon is aiming to be more than a cheaper way to use Ethereum. It is trying to act as a core “value layer” for the internet, where different chains can share security and liquidity while still being tailored to specific use cases.

By using one token, POL, across this network, Polygon is trying to reduce the fragmentation that has split users and liquidity across many isolated chains.

If the plan works, future users might not think about which chain they are on at all. They will just see fast applications that talk to each other behind the scenes, while POL takes care of security, staking, and fees in the background.