What Is Polygon Matic: An Explainer

Polygon (MATIC) is one of Ethereum’s premier scaling solutions. This article addresses critical questions such as “What is Polygon?”, “What is Polygon crypto?” and the specifics of “What is MATIC crypto?”. We look at Polygon’s unique blockchain architecture and its role in the evolution of the Ethereum blockchain.Polygon Partnerships in AutomobileMercedes: Developed Acentrik, a blockchain-based data-sharing platform, facilitating data tokenization on Polygon.

Food And Beverages

  • Starbucks: Partnered for the Starbucks Odessey Web3 initiative, introducing NFT offerings on the network.
  • 7-Eleven: The American convenience store chain partnered with the network to introduce Slurpee NFTs, which are digital collectibles.
  • Coca-Cola: Launched an NFT collection on International Friendship Day, minted on the network.

Fashion And Beauty

  • Nike, Adidas, And Prada: Supported various Web3-focused initiatives and digital fashion projects.
  • Casio: Another notable partnership was with Casio electronics manufacturer to launch a G-Shock watch-related initiative, contributing to Polygon’s growth.


  • Flipkart: Established the Blockchain eCommerce Centre of Excellence for integrating blockchain in commerce.
  • Venly & Shopify: Enabled minting and selling of NFTs for Shopify merchants on the network.


  • DraftKings: Developed the DraftKings NFT Marketplace, built on Polygon.
  • SPORTFIVE: Collaborated to create Web3 experiences in sports, including Metaverse and NFT initiatives.

Partnerships In Technology

  • Nothing: Launched an NFT loyalty program with tech company Nothing.
  • Stripe: Integrated with Stripe for cryptocurrency payouts using Polygon’s blockchain.
  • Deutsche Telekom: The telecommunications giant partnered with the project to enhance its blockchain infrastructure and capabilities.

Exploring MATIC Crypto: The Building Block of Polygon

MATIC crypto, the native token of the network, is a fundamental component that fuels and stabilizes the Polygon ecosystem. It plays a multifaceted role, encapsulating both utility and governance aspects. As project evolves and expands its reach, the significance of MATIC continues to grow, underpinning the network’s operational efficacy and user engagement.

What Is MATIC Crypto?

MATIC token, originally central to the Matic Network and now integral to Polygon, serves several key functions within the ecosystem. It is an ERC-20 token, compatible with the Ethereum blockchain, which facilitates seamless integration and interoperability. Key characteristics and uses of MATIC include:

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  • Transaction Fees: MATIC is used to pay for transaction fees on the network, compensating validators for their computational resources.
  • Staking: As part of Polygon’s Proof of Stake (PoS) consensus mechanism, MATIC tokens are staked by validators and delegators. This staking process secures the network and ensures its integrity.
  • Governance: Holding MATIC tokens grants users governance rights within the ecosystem, allowing them to participate in decision-making processes and vote on proposals regarding network upgrades and changes.


MATIC’s role extends beyond its utility as a cryptocurrency. It is the cornerstone of the network, with its functions intricately woven into the network’s architecture:

  • Network Security: Through staking, MATIC plays a crucial role in maintaining the security and stability of the network. Validators, who stake MATIC tokens, are responsible for processing transactions and adding them to the blockchain. Their commitment is incentivized through rewards paid in MATIC.
  • User Incentivization: The staking mechanism also serves to incentivize users to participate in the network. By staking MATIC, users can earn rewards, contributing to the network’s health and fostering a robust user community.
  • Scalability And Efficiency: The use of MATIC for transaction fees underpins Polygon’s ability to offer low transaction costs and high throughput, crucial for scaling the Ethereum network effectively.
  • Empowering Decentralized Applications (dApps): MATIC’s compatibility with Ethereum and its role in transaction fee management make it an attractive option for dApp developers seeking an efficient, scalable platform.
  • Facilitating Governance: As a governance token, MATIC empowers its holders to shape the future of the network, ensuring a decentralized and user-centric development approach.

Polygon 2.0: What The Future Will Look Like

Polygon 2.0 marks a transformative phase in the evolution of the network, aiming to scale Ethereum to the size of the internet using advanced Zero-Knowledge (ZK) technology.

History Of Polygon

Polygon, initially launched as Matic Network in 2017, was developed to address critical blockchain scaling and usability issues. In May 2020, the Matic Network debuted its mainnet on Ethereum. During this phase, the network was predominantly managed by the Matic Foundation, which gradually began to onboard third-party validators for decentralized control.

The network underwent a significant transformation in February 2021, rebranding to Polygon. This change marked an expansion of its capabilities, including the integration of ZK-rollup technologies and various other scalability solutions. Following this, the project continued its momentum by acquiring technologies like Hermez and Mir Protocol, and launching initiatives such as Polygon ID in June 2022 and Polygon Supernets in October 2022. The introduction of Polygon zkEVM in March 2023 further cemented its commitment to enhancing scalability and privacy.

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What Is Polygon 2.0?

Polygon 2.0, announced on June 12, 2023, represents a series of proposed upgrades aimed at unifying all Polygon protocols under the Zero-Knowledge (ZK) technology umbrella. This ambitious plan includes upgrading the PoS network to a zkEVM Validium network, which uniquely stores transaction data off-chain, maintained by the network’s validators.

The initiation of Polygon 2.0’s “Phase 0” on September 14, 2023, marked the beginning of implementing these upgrades. This phase was driven by the release of several critical Polygon Improvement Proposals (PIPs) that laid out the foundational changes for the network’s transformation. These proposals aimed to ensure that existing users and developers on the network would not be immediately affected, ensuring a smooth transition.

What is Polygon 2.0 | Image credit: Polygon Labs


A cornerstone of the Polygon 2.0 upgrade is the transition from the existing MATIC token to the new POL token. This transition was officially set in motion with the POL token contract going live on the Goerli testnet on October 4, 2023. The POL token is designed to serve as the native token of the upgraded ecosystem, supporting a variety of roles across the ZK-based L2 chains.

The POL token starts with a supply of 10 billion, allowing for a one-to-one migration from MATIC, and features an annual emission rate of 2%. This emission is strategically planned to support validator staking rewards and contribute to a community treasury, emphasizing a balanced and sustainable network growth.

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Market Insights: What Is The Price Of MATIC?

The price of MATIC, Polygon’s native cryptocurrency, is subject to fluctuations driven by various factors in the cryptocurrency market. The token’s value is influenced by general market trends, investor sentiment, network upgrades, and broader economic conditions.

Polygon MATIC price prediction | Image credit: Admiral Markets

Factors Influencing MATIC’s Price

Several key factors can impact the price of MATIC:

  • Network Upgrades: Significant developments such as the transition to Polygon 2.0 and the change from MATIC to POL can have a profound effect on the token’s price as they reflect the network’s growth and scalability prospects.
  • Adoption And Partnerships: As Polygon forms partnerships with major brands and companies, the increased usage and visibility can positively influence MATIC’s value.
  • Market Sentiment: Investor perceptions and sentiment, often swayed by news and social media, can lead to price volatility.
  • Regulatory Environment: Changes in the regulatory landscape for cryptocurrencies in key markets can affect the price as they alter the operational framework for crypto assets like MATIC.
  • Technical Developments: Innovations in blockchain technology and integrations with other platforms can affect the perceived value of MATIC.
  • Economic Indicators: Broader economic factors, such as inflation rates, interest rates, and the performance of major fiat currencies like the US dollar (DXY), can also play a role.

Polygon Price Prediction

The 1-week chart of MATIC/USD depicts the most crucial levels in the medium to long term. For the analysis of these price levels, we use Fibonacci retracement levels and Exponential Moving Averages (EMAs) to identify potential support and resistance levels.

Polygon MATIC price, 1-week chart | Source: MATICUSD on TradingView.com

Fibonacci Retracement Levels:

  • 0.236 Level (Approximately $0.92): This level, derived from the Fibonacci retracement, is a potential resistance zone. If the price of MATIC approaches this level, traders might expect some selling pressure, as it’s a common retracement level where price reversals can occur.
  • 0.382 Level (Approximately $1.29): This is another key resistance level. A break above this could signal strong bullish momentum, possibly leading to higher price levels.
  • 0.5 Level (Approximately $1.59): The halfway point of the Fibonacci retracement levels is considered a psychological level of market sentiment. It may serve as a strong resistance level where the price could face considerable challenges.
  • 0.618 Level (Approximately $1.89): Often referred to as the ‘golden ratio,’ this level is crucial. If the price were to move past this point, it might indicate a potential trend reversal from previous declines.
  • 0.786 Level (Approximately $2.32): Approaching this higher retracement level typically indicates a substantial recovery from past downtrends, signifying that the price is nearing the previous highs from which it retraced.

Exponential Moving Averages:

  • 20-Week EMA: MATIC has recently breached the 20-week EMA at $0.65, which it had been trailing below since mid-April 2023. This move indicates a potential shift in short-term sentiment from bearish to bullish.
  • 50-Week EMA: The price is currently approaching the 50-week EMA at $0.77, a crucial resistance level that traders often watch. If MATIC can sustain above this level, it might confirm a stronger bullish trend over the medium term.
  • 100 and 200-Week EMAs: These longer-term EMAs represent more substantial levels of support and resistance and could indicate the overall health of the market. A breach above the 100-week EMA (approximately $0.95) would be a strong bullish signal, while the 200-week EMA would be indicative of a long-term bullish reversal.

Current Status

As of November 7, MATIC is trading around $0.7087, having recently conquered the 20-week EMA. The next critical level for MATIC to test is the 50-week EMA. If it successfully breaks and holds above this level, the next significant resistance would be at the 0.236 Fibonacci level of $0.92. These levels, coupled with market sentiment and fundamental developments within the ecosystem, will be pivotal in determining MATIC’s price trajectory in the coming weeks and months.


What Is Polygon?

Polygon is a layer two blockchain scaling solution and framework to the Ethereum blockchain, enabling fast transactions with reduced costs.

What Is Polygon Crypto?

“Polygon crypto” refers to the cryptocurrency ecosystem that is built on the network, including its native token, MATIC (soon to be POL), and the various decentralized applications (dApps) it supports.

What is MATIC Crypto?

“MATIC crypto” is the native utility token of the Polygon network, used for transaction fees, staking, and participating in network governance.

What Is Polygon Matic?

Polygon (MATIC) refers to the ecosystem and the suite of solutions provided by the Polygon network, which was initially known as the Matic Network before rebranding.

What Is The Price Of MATIC?

You can check the varying price of MATIC on any major cryptocurrency exchange or financial market data provider.

What Is MATIC Polygon?

MATIC Polygon refers to the native token (MATIC) and the underlying network (Polygon) on which it operates.

What Is Polygon Blockchain?

The Polygon blockchain is a scalable network that provides a framework for building and connecting Ethereum-compatible blockchain networks.

What Is The Polygon Network?

The Polygon network is the overarching ecosystem that includes the Polygon blockchain, its native MATIC token, and all connected services and dApps.

What Can You Do With Polygon MATIC?

With Polygon Matic, you can engage in a variety of blockchain-related activities such as trading, staking, governance, and interacting with dApps for gaming, finance, and other services.

What Does Polygon MATIC Do?

Polygon Matic provides a platform for creating scalable and interconnected blockchain networks with lower transaction fees and faster speeds compared to Ethereum.

What Is Going On With Polygon Matic?

Polygon MATIC is continuously evolving, with upgrades like Polygon 2.0 aimed at expanding its capabilities and improving its infrastructure for better scalability and interoperability.

What Is MATIC Coin Used For?

Users can employ the MATIC coin to pay transaction fees on the Polygon network, stake for network security, and participate in governance voting.

What Is The MATIC Network?

The MATIC network refers to the initial name of the Polygon network (rebranded in February 2021).

What Is The MATIC Token?

The MATIC token is the native cryptocurrency of the Polygon network, used to facilitate transactions, secure the network through staking, and enable community governance through voting.

What Is Polygon Chain?

The Polygon chain is a blockchain that operates in parallel to the Ethereum main chain. It aims to provide faster and cheaper transactions while still maintaining a high degree of security and interoperability with Ethereum.

What Is Polygon Coin Used For?

Users utilize the Polygon coin, or MATIC, to pay transaction fees on the network, participate in the proof-of-stake consensus mechanism, and engage in governance through voting on network upgrades and proposals.

What is Polygon Web3?

Polygon Web3 refers to the third generation of internet services for websites and applications built on the Polygon blockchain, focusing on decentralized protocols and providing a distributed environment for Web3 applications.

What Is Polygon Worth?

The worth of Polygon, in the context of market capitalization, is the total value of all the MATIC tokens in circulation. This value fluctuates based on the current market price of MATIC.

What Is The Current Price Of MATIC?

You can check the current price of MATIC, which varies, in real-time on various cryptocurrency exchanges or financial data platforms.

What Network Does MATIC Use? What Network Is Polygon On?

MATIC operates on the Polygon network, a layer two scaling solution built atop the Ethereum blockchain. This network aims to support scalable blockchain infrastructure and operates in tandem with Ethereum.

What Type Of Coin Is MATIC?

MATIC, a type of digital currency known as a cryptocurrency, serves as a utility token specifically designed for the Polygon network. Within its ecosystem, it facilitates transactions, staking, and governance.

Featured image from Moonstats, chart from TradingView.com

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Author: Jake Simmons

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