Polygon (POL) is the cryptocurrency behind one of Ethereum’s most effective scaling solutions.
Founded in 2017 by Sandeep Nailwal, Jaynti Kanani, Anurag Arjun, and Mihailo Bjelic, Polygon started as Matic Network before rebranding in 2021 to reflect its growing vision. The goal is to make blockchain scalable for DeFi, NFTs, gaming, and large-scale enterprise adoption without congestion or sky-high gas fees.
Unlike networks trying to compete with Ethereum, Polygon works alongside it as a Layer 2 scaling solution, using Proof-of-Stake (PoS) to process thousands of transactions per second at a fraction of the cost. Polygon is also building an entire ecosystem of cutting-edge scaling solutions, including zk-rollups, optimistic rollups, and modular blockchains, making Web3 smoother and more efficient. Over time, Polygon has undergone several major upgrades, including the implementation of zkEVM and enhancements to its staking infrastructure to improve security and efficiency.
Polygon's native token has been transitioned from MATIC to POL, with POL serving as the new gas and staking token. POL holders can participate in governance and staking, contributing to the network's future development. Unlike some DeFi platforms, Polygon does not focus on yield farming but provides liquidity incentives through ecosystem grants and strategic partnerships.
Polygon already powers some of the biggest projects in crypto — Aave, OpenSea, and even enterprise applications.
