Polygon is entering a transformative phase with the upcoming introduction of its new native token, POL, set to replace the current MATIC token on September 4, 2024. This shift marks a pivotal moment in Polygon’s evolution—from a single proof-of-stake (PoS) sidechain into a unified, scalable ecosystem powered by zero-knowledge (ZK) technology and the innovative AggLayer.
This guide breaks down everything you need to know about the MATIC to POL migration, the role of the new token, and what this means for developers, validators, and everyday users within the Polygon ecosystem.
The Evolution of Polygon: From MATIC to AggLayer
Since its inception in 2017 as the Matic Network, Polygon has grown into one of the most widely used Ethereum scaling solutions. Known for fast transactions and low fees, it quickly became a go-to platform for decentralized applications (dApps), NFTs, and DeFi protocols.
In 2021, the rebrand to Polygon signaled a broader vision: not just a single chain, but an interconnected network of blockchains. Now, with the launch of AggLayer, that vision is becoming reality.
What Is AggLayer?
AggLayer is Polygon’s next-generation infrastructure designed to unify multiple independent blockchains—each powered by zero-knowledge proofs—into a single, cohesive network. Instead of fragmented chains with separate security models, AggLayer introduces shared sequencing and unified security, all anchored to Ethereum Layer 1 (L1).
This means:
- Seamless cross-chain communication
- Instant finality across chains
- One-click bridging between any AggLayer-connected chain and Ethereum
- Reduced complexity for users and developers
By leveraging ZK technology at scale, AggLayer aims to solve one of crypto’s biggest challenges: blockchain fragmentation.
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Introducing the POL Token: A New Era for Polygon
The launch of POL isn’t just a rebrand—it’s a fundamental upgrade to Polygon’s economic and governance model. Replacing MATIC on a 1:1 basis starting September 4, 2024, POL will serve as the primary utility token across the expanded Polygon ecosystem.
Key Features of the POL Token
- Gas Fees & Staking: POL will be used to pay transaction fees and stake on the Polygon PoS chain.
- Shared Security Model: Validators who stake POL can secure not only the main PoS chain but also other chains within the AggLayer.
- Enhanced Validator Incentives: Beyond staking rewards, validators can earn additional income by participating in ZK proof generation and other network functions.
- Governance Rights: POL holders will gain voting power over the Community Treasury, influencing funding decisions for ecosystem development, research, and innovation.
Polygon describes POL as a “third-generation” crypto token—designed not just for transactions or speculation, but for active participation in a secure, scalable multichain future.
Who Needs to Migrate? Understanding Eligibility
Not all MATIC holders need to take manual action. The migration process varies depending on where your tokens are stored.
✅ Automatic Conversion (No Action Required)
If your MATIC tokens are held on the Polygon PoS chain, they will be automatically converted to POL at a 1:1 ratio when the migration goes live on September 4, 2024.
This includes:
- MATIC stored in non-custodial wallets like MetaMask, Trust Wallet, or Ledger (connected to Polygon PoS)
- Tokens staked directly on the Polygon network
❗ Manual Migration Required
Holders of MATIC on certain platforms or chains must initiate the swap themselves:
- MATIC on Ethereum (ERC-20): Must use the official migration contract to exchange ERC-20 MATIC for POL.
- MATIC on Polygon zkEVM: Requires manual migration via the designated portal.
- Tokens on unsupported decentralized exchanges or bridges: Users should move tokens to a supported wallet or exchange before migration.
Centralized Exchanges (CEXs)
Most major exchanges—including OKX, Binance, and Coinbase—are expected to support the transition automatically. However, users should verify their exchange’s policy ahead of September 4.
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Step-by-Step Migration Process
Here’s how to ensure a smooth transition if manual action is required:
Step 1: Confirm Your Token Location
Check whether your MATIC is on:
- Polygon PoS (automatic)
- Ethereum (manual)
- Polygon zkEVM (manual)
Use block explorers like polygonscan.com or etherscan.io to verify.
Step 2: Prepare a Compatible Wallet
Ensure you’re using a non-custodial wallet that supports both chains (e.g., MetaMask). Add necessary network configurations if needed.
Step 3: Access the Migration Portal
Visit the official Polygon migration dApp (hosted on polygon.technology) to begin the swap.
Step 4: Connect Wallet & Approve Swap
Connect your wallet, select the source chain (e.g., Ethereum), enter the amount of MATIC to migrate, and confirm the transaction.
Step 5: Wait for Confirmation
The migration uses a trust-minimized bridge mechanism. Depending on network congestion, completion may take several minutes.
Once done, your wallet will reflect the equivalent balance in POL.
Frequently Asked Questions (FAQ)
Q: Do I need to do anything if my MATIC is in MetaMask on Polygon PoS?
A: No. If your MATIC is already on the Polygon PoS network, the conversion to POL will happen automatically on September 4, 2024.
Q: Will the value of my tokens change after migration?
A: No. The swap is 1:1. Your token quantity remains the same—only the ticker symbol changes from MATIC to POL.
Q: Can I still use MATIC after September 4, 2024?
A: No. After migration day, MATIC will be phased out as the native token. All new transactions and staking will require POL.
Q: Is there a fee to migrate?
A: Yes. Gas fees apply when migrating from Ethereum or zkEVM due to blockchain transaction costs. Migrations on Polygon PoS are free.
Q: What happens to staking rewards during migration?
A: Stakers on Polygon PoS will continue earning rewards uninterrupted. After migration, rewards will be paid in POL.
Q: How does POL improve security across chains?
A: POL validators contribute to a shared security pool via AggLayer, allowing them to secure multiple ZK-powered chains simultaneously—increasing overall network resilience.
Why This Upgrade Matters for the Future of Web3
The shift from MATIC to POL reflects more than a token swap—it represents Polygon’s ambition to lead the next wave of blockchain innovation. With AggLayer and ZK-powered chains, Polygon is building a future where:
- Users interact seamlessly across dozens of apps without worrying about bridges or gas fees
- Developers launch customizable chains with built-in liquidity and security
- Validators earn more by securing multiple chains with one stake
This upgrade positions Polygon not just as a scaling solution, but as a foundational layer for mass blockchain adoption.
👉 Explore how next-gen blockchains are redefining digital ownership and identity.
Final Thoughts
The MATIC to POL migration is a milestone event in crypto—one that underscores the importance of adaptability and long-term vision in blockchain development. Whether you're a long-time holder, active validator, or curious newcomer, understanding this transition ensures you’re prepared for what comes next.
Mark your calendar for September 4, 2024, and make sure your assets are in the right place. The era of fragmented chains is giving way to unified ecosystems—and Polygon is leading the charge.
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POL token, MATIC to POL migration, AggLayer, zero-knowledge technology, Polygon PoS, blockchain fragmentation, shared security, ZK-powered chains