Polygon price in euros

According to its own documentation, Polygon is a blockchain that works with the Ethereum Virtual Machine (EVM) and is anchored to Ethereum. Transactions are executed outside Ethereum; the state of the network is regularly recorded on Ethereum, in what are known as checkpoints. The project started in 2017 as Matic Network, with a whitepaper by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. The mainnet's first block dates from 30 May 2020; in February 2021, Matic Network carried on under the name Polygon.

The documentation now calls the network Polygon Chain; posts from 2024 still call it Polygon PoS. It runs on proof-of-stake, in two layers. Bor produces the blocks and executes the transactions. Heimdall is the layer of validators that check the blocks and send the checkpoints to Ethereum. To do this, validators lock up POL in contracts on Ethereum; at most 105 can be active at any one time. According to the documentation, a transaction is final in 2 to 5 seconds.

POL is the successor to MATIC. The POL contracts have been on Ethereum since October 2023, and on 4 September 2024 POL replaced MATIC as the coin for transaction fees (gas) and for staking on the network. The conversion is 1 to 1: for every MATIC, you receive one POL. MATIC on the Polygon network itself became POL automatically; MATIC on Ethereum is exchanged through a migration contract. According to Polygon, 99% of MATIC had been converted by September 2025.

At launch there were 10 billion POL, matching the amount of MATIC. Each year, 2% more POL is added: half as a reward for the validators, half for a community treasury that supports builders. Governance can adjust that percentage, but not beyond a fixed cap in the POL contract. You use POL to pay transaction fees on Polygon Chain and for staking.