$POL
POL is the native cryptocurrency of the Polygon network, formerly known as MATIC. Polygon is a Layer 2 scaling solution for Ethereum, designed to improve transaction speeds and reduce costs while maintaining security.
Key Features of POL:
- Network Utility: POL is used to pay transaction fees and participate in staking within the Polygon ecosystem.
- ERC-20 Token: As an ERC-20 token, POL is compatible with Ethereum-based wallets and applications.
- Transition from MATIC: POL is set to gradually replace the MATIC token over a four-year period as part of the Polygon 2.0 upgrade.
Market Data (as of December 24, 2024):
- Price: Approximately $0.49 USD per POL.
- Market Capitalization: Around $4.09 billion USD.
- Circulating Supply: Approximately 8.39 billion POL tokens.
Use Cases:
- Transaction Fees: POL is used to pay for transactions within the Polygon network.
- Staking: Holders can stake POL to help secure the network and earn rewards.
- Governance: POL holders may have the opportunity to participate in governance decisions within the Polygon ecosystem.
Considerations:
- Market Volatility: As with all cryptocurrencies, POL's price is subject to market fluctuations.
- Transition Period: The shift from MATIC to POL is ongoing, and users should stay informed about the transition process.
For more detailed information, you can visit Polygon's official website:
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