MATIC is an ERC-20 token and the governance coin of the Polygon blockchain. Polygon network aims to solve Ethereum's fundamental limitations such as scalability, speed, and compatibility. Polygon claims to have the security of the Ethereum network while providing the very cheap and fast transactions. MATIC is the most successful Ethereum Layer-2 project so far. MATIC's Polygon network has a TVL of over 3 Billion USD.
With a total market cap of over $6.55 billion, Polygon is the No. 17 cryptocurrency by market size. The currency symbol for Polygon is MATIC and it originated in India. There will only ever be 10 billion Polygon tokens issued. So far 9.24 billion tokens (92.4% of the total supply) have been issued.
The upgrade from MATIC to POL has been initiated on Ethereum's mainnet. For more information, please refer to this article and post. For the new migrated token, visit POL on CoinGecko.
We found crypto protocols offering up to 137.8% APY on Polygon deposits (5.5% APY CeFi, 137.8% APY DeFi) and loans as low as 6.9% APR against Polygon used as collateral. Check out our Polygon staking yields table and Polygon loan rates table for further details.
The technical price analysis for Polygon below is undertaken automatically by Tradingview by looking at over 20 different technical chart indicators. You can see how many of these indicators were BUY, NEUTRAL or SELL at the bottom of the chart. The indicators will change depending on what time frame you are looking at. The analysis does not consider market sentiment or broader macro issues that may affect the price of Polygon.
APolygon uses a proof of stake concensus algorithm.
QWhat ecosystem is Polygon part of?
APolygon is part of the Polygon, Moonriver and Injective ecosystems.
QIs it possible to stake Polygon to generate passive income?
AYes, staking is available for Polygon on a number of platforms. For a full list of Polygon staking yields see our list of Polygon staking yields.
QHow much can I earn staking Polygon?
AYou can earn up to 137.8% APY by staking your Polygon tokens. Check out our Polygon staking yields table for further details.
QWhere is the best place to stake Polygon?
ARight now the best staking rates are on DeFiChain with an income rate of up to 137.8% APY.
QWhat is the difference between CeFi and DeFi staking rates for Polygon?
AThe best CeFi staking rate that we could find for Polygon is on Crypto.com with an income rate of up to 5.5% APY and the best DeFi staking rate is on DeFiChain with an income rate of up to 137.8% APY.
QIs it a good time to buy Polygon?
AYou can check the technical indicators for Polygon on the Polygon Price Trend tab. These indicators are based on the analysis of multiple trading signals for Polygon.
QWhere is the best place to buy Polygon?
AYou can find the cheapest exchange on which to buy Polygon on the Polygon Buy tab.
QCan you get a Polygon loan without collateral?
AAlmost all Polygon loans require you to provide collateral of higher value than the value of the loan that you are tkaing it. The only exception to this is Polygon flash loans which allow you to borrow uncollateralised Polygon for a few seconds as part of a wider transaction. You will need advanced coding skills to take advantage of flahs loans. You can compare all Polygon loans on the Polygon Loans tab.
QWhich venture capital firms have invested in Polygon?
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