Does polygon have a cryptocurrency?

Polygon has its own cryptocurrency, called MATIC, which is used to pay fees on the Polygon network, for staking, and for governance (which means that MATIC holders get to vote on changes to Polygon). You can also buy and sell MATIC via Coinbase and other exchanges. The name MATIC comes from an earlier stage in Polygon’s development.

What is polygon blockchain?

What Is Polygon? Polygon is a layer-two (L2) blockchain for Ethereum that uses different scaling technologies to improve the scalability of the Ethereum mainnet. It will connect Ethereum-compatible blockchains in an internet of blockchains, similarly to the mechanism used by Polkadot.

Is polygon a utility token?

Despite the rebrand, the native utility token of the Polygon network is still known as MATIC. This is largely used for paying gas fees and participating in governance, and can also be used throughout the rapidly expanding Polygon DeFi ecosystem. Is Polygon (MATIC) a Good Investment?

Is polygon a Matic coin?

On the Ethereum protocol, the team focused on creating the Plasma MVP, the WalletConnect protocol, and the more well-known Dagger event notification engine. As previously stated, although Polygon has considerably expanded on the Matic Network’s original goal, it has kept the MATIC utility coin.