Polygon(Matic) is now POL

[betswift]

Rebranding is a last resort if the token fails to rise, but if POL does not gain traction and popularity in the coming months, Polygon(Matic) will perform poorly during the current bull market.

I doubt if things will ever be the same again

Apparent the Ethereum gas fees have been dropping for a while so there will be no point of these layer 2 in the long run. Moreover, there are also very competitive layer 1 blockchains to Ethereum, such as Solana.

I think L2 has many more uses than just reducing fees. For example, decentralized exchanges, NFTs, games, and many things that are not considered transactions should be there. Here, the fees will be constantly low with the possibility of being able to be scalable in unnecessary directions.

There would be backup scalability of sorts put in place, whereas we don't see such in ETH itself Only time will tell how L2's will go through changes like that.

[Abiky]

I think L2 has many more uses than just reducing fees. For example, decentralized exchanges, NFTs, games, and many things that are not considered transactions should be there. Here, the fees will be constantly low with the possibility of being able to be scalable in unnecessary directions.

Let's not forget about L3s. It's the next big thing. Layers built on top of other layers. Just like how the Internet works today. Even Sony built its own L2 network on top of the Ethereum blockchain. Highly-scalable L1s like Solana and BSC might need L2s if they get plagued by network congestion. There's no such thing as "infinite scalability", though. If developers want to keep the main chain decentralized, moving certain transactions off-chain (L2) would be the way to go.

I think Polygon will still be relevant in the future. It's already fast, cheap, and highly-compatible with the EVM. It's even better than separate L2 solutions such as Arbitrum and Optimism. I've read that developers will be integrating ZKPs on the Polygon chain. It will make Polygon more scalable and private. The change from MATIC to POL is only a rebranding. But if the project keeps innovating, it might reach the top someday. Who knows if POL goes as far as surpassing SOL in market cap?

[FortuneFollower]

Ethereum bought or will buy Polygon in the nearest future

Why do you think so?

[batang_bitcoin]

Ethereum bought or will buy Polygon in the nearest future

Why do you think so?

Because it will be on ETHs mainnet, I think that's the reason for him. And if that's possible, it should have been done long ago when Polygon wasn't that big yet. But I think on its current state, it's quite big already and it's been noticed globally and the market share that it has got is quite good enough. Anyway, this is the crypto market we've seen acquisitions after acquisitions. And for a big crypto to purchase another project is possible but I don't think that it will happen anyway. As for this update[1] of Polygon, it's now live.

[1] MATIC to POL Migration Is Now Live. Everything You Need to Know.

For users with MATIC on Ethereum, the Polygon Portal interface provides a 1:1 migration: https://portal.polygon.technology/pol-upgrade

[Webetcoins]

I think L2 has many more uses than just reducing fees. For example, decentralized exchanges, NFTs, games, and many things that are not considered transactions should be there. Here, the fees will be constantly low with the possibility of being able to be scalable in unnecessary directions.

Or we can rather say that they are an alternative because they don't reduce the fees for the other coins but it was them that has a cheaper fee. Not just there is a 'possibility' of them being scalable but they are really scalable. This is one of their advantages.

Ethereum bought or will buy Polygon in the nearest future

I think no. Polygon or POL now must still be owned by the same team but may be yeah that they might be getting a buy offer because they are one of the best performing cryptos in this market and one of it might be ETH. I don't only think that POL will agree to it because like I said earlier, they are already doing well and are earning a great income. They can also earn more passive profits if they still have their project, than if they sell it and get one-time big-time amounts.

Anyway, my thoughts about Polygon is that it's great that they are continuing on improving their service to the public. This should give them another positive impression and can make their price rise more. I didn't really pay attention to what their update is all about but even if I do, I think I won't still understand it lol. The only thing that I can say is that it must be one of a kind that it leads them to change their name.

[shawonngp]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

So what about the investors who have MATIC holdings?? Will it be converted to POL from the old version name Matic? Why did they change it? Is it because it is closer to the word "polygon"? Am I right? So they should remove the matic from the listing now, right?

Oh, since this is POL now, and those who have matic holdings will probably automatically convert it to usdt or Polygon's POL ticker name itself. It is because so unfair if there is POL and Matic in the exchange, isn't right?

User balances on centralized exchanges holding Matic are temporarily frozen until the ticker change process is fully completed. The Matic network or now POL has nothing new. They are experiencing a decline in investor interest because there is not much of an updated ecosystem that they present, even some tokens on the POL network have not moved much in price.

When ticker change will be completed? my Matic is hold on binance exchange still not swap to Pol, I dont know about other centralized exchanges. But I see most of top exchanges disabled Matic trading pair and open Pol trading pair but only Binance still not stop Matic trading pair. Pol and Matic pirce is same no price changes, so what is this advantages of this token upgrade .

[ibuddy122505]

When ticker change will be completed? my Matic is hold on binance exchange still not swap to Pol, I dont know about other centralized exchanges. But I see most of top exchanges disabled Matic trading pair and open Pol trading pair but only Binance still not stop Matic trading pair. Pol and Matic pirce is same no price changes, so what is this advantages of this token upgrade .

No need to panic—Binance will support the Polygon (MATIC) token swap to Polygon (POL). POL will replace MATIC, and the swap will be at a 1:1 ratio (1 MATIC = 1 POL).

Binance will delist MATIC on September 9th(this is the day) and switch to POL. There's nothing you need to do; your wallet will automatically update with the new coin. MATIC holders should just be aware of this change. And that's what i've read.

[Abiky]

I think no. Polygon or POL now must still be owned by the same team but may be yeah that they might be getting a buy offer because they are one of the best performing cryptos in this market and one of it might be ETH. I don't only think that POL will agree to it because like I said earlier, they are already doing well and are earning a great income. They can also earn more passive profits if they still have their project, than if they sell it and get one-time big-time amounts.

Anyway, my thoughts about Polygon is that it's great that they are continuing on improving their service to the public. This should give them another positive impression and can make their price rise more. I didn't really pay attention to what their update is all about but even if I do, I think I won't still understand it lol. The only thing that I can say is that it must be one of a kind that it leads them to change their name.

Isn't Polygon Labs a non-profit organization? Even if it was a company, the Ethereum Foundation is not. Since when crypto is all about companies? When you associate crypto with a CEO of a company, that's when you've forgotten about its true meaning. Crypto would be no different than traditional stocks. I'm afraid this is the way the industry is heading into. And we can all blame VCs and "Wall Street" for that. Polygon will still be Polygon no matter what. Assuming it stays true to the principles of decentralization and censorship-resistance.

The transition from MATIC to POL is just a marketing strategy. Of course, there are some minor improvements for the chain. But the thing is, all of the attention is on Solana right now. Especially with all of the garbage "meme" coins and NFTs. Who cares about tech when there's money to be made with "shitcoins"? That's the harsh truth. I guess quality projects like Polygon and Polkadot will be overlooked by investors for long. ETH is lucky to be at the top of the altcoins market, especially when now it's a "centralized shitcoin". Only time will tell whenever POL will survive or not. Who knows what the future will bring?

[Sayeds56]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

So what about the investors who have MATIC holdings?? Will it be converted to POL from the old version name Matic? Why did they change it? Is it because it is closer to the word "polygon"? Am I right? So they should remove the matic from the listing now, right?

Oh, since this is POL now, and those who have matic holdings will probably automatically convert it to usdt or Polygon's POL ticker name itself. It is because so unfair if there is POL and Matic in the exchange, isn't right?

I am also holding Matic coins on OK exchange and unfortunately it is not tradeable now which I am failing to understand why is so as migration to POL was supposed to be supported by all major exchanges. The Matic team should come forward and explain all these confusions, However, despite all these issues I am quite confident about positive impact of this migration on Matic price in the long term.

[JellyJ]

I have a huge amount of matic in one of my wallets. Do I have to do something to swap to the new token or I just have to chill and hope for an airdrop? I don't want to end up with a pile of useless tokens right now

[FortuneFollower]

I have a huge amount of matic in one of my wallets. Do I have to do something to swap to the new token or I just have to chill and hope for an airdrop? I don't want to end up with a pile of useless tokens right now

As ibuddy said: "No need to panic—Binance will support the Polygon (MATIC) token swap to Polygon (POL). POL will replace MATIC, and the swap will be at a 1:1 ratio (1 MATIC = 1 POL)".

You don't need to do anything, as I got it.

It will be delisted.

[Z_MBFM]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

Not only kucoin but Binance and Matic are delisting.  Suddenly their decision has brought down the price of Matic a lot.  Such activity frustrates investors. And already many big investors have pulled out of Matic. I never support their activities and I will never be encouraged to invest in their POL tokens. It's really annoying when something like this is done to such a popular coin. And the desire to invest on that coin decreases

[FortuneFollower]

confusing rebranding in my honest opinion, both the ticker MATIC and POL still exist in CMC and both ticker have its own market with differing price (wtf?), there are many exchanges announcing delisting of MATIC and don't put additional effort to elaborate that it's not exactly delisting but just rebranding and switching ticker that it caused fear for the matic holder such as this headline .



the polygon foundation should be better at explaining things, this long upgrade to POL is exhausting the holders and I personally find it annoying.

Not only kucoin but Binance and Matic are delisting.  Suddenly their decision has brought down the price of Matic a lot.  Such activity frustrates investors. And already many big investors have pulled out of Matic. I never support their activities and I will never be encouraged to invest in their POL tokens. It's really annoying when something like this is done to such a popular coin. And the desire to invest on that coin decreases

There will be a wave of going out, but with time, I think it will be forgotten, really.
Only time and effort from the team will tell if MATIC will do something that will get those who got discouraged - back.

[Sayeds56]

I have a huge amount of matic in one of my wallets. Do I have to do something to swap to the new token or I just have to chill and hope for an airdrop? I don't want to end up with a pile of useless tokens right now

I believe there is no issue with the Matic coin being held in wallet on polygon network as I have seen my own coin in my Metamask wallet have been successfully migrated to POL chain. However, I am also worried like you about my Matic coins in Bybit and OK exchanges accounts, where I an not able to trade or even withdraw them. The exchanges support teams along with Matic teams need to coordinate and resolve this pending issue once for ever , which is causing confusion among long term investors of Matiic coins.

[Tipstar]

Been using Polygon for a while but didn't knew it changed its abbreviation. Most of the defi and dapps I use still use Matic so no confusion there. As of recently, the transactions on polygon have come to hault. Can't process any of transactions even when I use double the recommended fees. Not sure if its due to the migration or update. People uses Polygon as cheaper fee Defi coin. Staking my coins and creating LP are cheaper in Polygon than on any popular network. If they solve their ocassional transaction failure problem, they could get a good market share.

[X-ray]

I think no. Polygon or POL now must still be owned by the same team but may be yeah that they might be getting a buy offer because they are one of the best performing cryptos in this market and one of it might be ETH. I don't only think that POL will agree to it because like I said earlier, they are already doing well and are earning a great income. They can also earn more passive profits if they still have their project, than if they sell it and get one-time big-time amounts.

Anyway, my thoughts about Polygon is that it's great that they are continuing on improving their service to the public. This should give them another positive impression and can make their price rise more. I didn't really pay attention to what their update is all about but even if I do, I think I won't still understand it lol. The only thing that I can say is that it must be one of a kind that it leads them to change their name.

Isn't Polygon Labs a non-profit organization? Even if it was a company, the Ethereum Foundation is not. Since when crypto is all about companies? When you associate crypto with a CEO of a company, that's when you've forgotten about its true meaning. Crypto would be no different than traditional stocks. I'm afraid this is the way the industry is heading into. And we can all blame VCs and "Wall Street" for that. Polygon will still be Polygon no matter what. Assuming it stays true to the principles of decentralization and censorship-resistance.

altcoins has long become VC playground literally most of projects nowadays exist because VC funding otherwise the founder won't even bother creating projects, it's always money that they're after, this is why sometime people consider altcoin to be just VC coin and I think it's no different with this acquisition if it's really to be happening in the future.

that's why the true investment for crypto will always be bitcoin, even institutional investors know this and always put big chunk of money to bitcoin instead of diversifying to altcoins, they won't be buying things from altcoin because they know it's just VC's scheme.

[shawonngp]

I have a huge amount of matic in one of my wallets. Do I have to do something to swap to the new token or I just have to chill and hope for an airdrop? I don't want to end up with a pile of useless tokens right now

I believe there is no issue with the Matic coin being held in wallet on polygon network as I have seen my own coin in my Metamask wallet have been successfully migrated to POL chain. However, I am also worried like you about my Matic coins in Bybit and OK exchanges accounts, where I an not able to trade or even withdraw them. The exchanges support teams along with Matic teams need to coordinate and resolve this pending issue once for ever , which is causing confusion among long term investors of Matiic coins.

Metamask upgraded Matic to POL on time but Trustwallet still not upgrade because i have seen my coins still showing in Matic network. But binance exchange completed migrated in POL and i got my coins. I don't why they delaying about migration in their wallet, a few days gone still they did not take any step of course it's confusing.

[Abiky]

altcoins has long become VC playground literally most of projects nowadays exist because VC funding otherwise the founder won't even bother creating projects, it's always money that they're after, this is why sometime people consider altcoin to be just VC coin and I think it's no different with this acquisition if it's really to be happening in the future.

that's why the true investment for crypto will always be bitcoin, even institutional investors know this and always put big chunk of money to bitcoin instead of diversifying to altcoins, they won't be buying things from altcoin because they know it's just VC's scheme.

And that's why 99% of altcoins are centralized. They're funded by VCs driven by their own interests. Do you think they'll support truly-decentralized projects with anonymous developers/founders? Of course not! It's why Bitcoin is so different from alts. The community has been maintaining it after Satoshi left the project. All without funding from the aforementioned entities (as far as I'm aware).

Polygon is no different from Ethereum and the others. It will put VCs' own interests above all else. This means sacrificing decentralization in favor of convenience (scalability). Despite the transition to POL, market prices have barely moved. All eyes are on BTC to reach a new ATH. Once it does, alts like POL and the likes will go to the moon. So there's that. With so many L2 projects built on ETH these days, I wonder if Polygon will have a future?

[Tipstar]

altcoins has long become VC playground literally most of projects nowadays exist because VC funding otherwise the founder won't even bother creating projects, it's always money that they're after, this is why sometime people consider altcoin to be just VC coin and I think it's no different with this acquisition if it's really to be happening in the future.

that's why the true investment for crypto will always be bitcoin, even institutional investors know this and always put big chunk of money to bitcoin instead of diversifying to altcoins, they won't be buying things from altcoin because they know it's just VC's scheme.

And that's why 99% of altcoins are centralized. They're funded by VCs driven by their own interests. Do you think they'll support truly-decentralized projects with anonymous developers/founders? Of course not! It's why Bitcoin is so different from alts. The community has been maintaining it after Satoshi left the project. All without funding from the aforementioned entities (as far as I'm aware).

Polygon is no different from Ethereum and the others. It will put VCs' own interests above all else. This means sacrificing decentralization in favor of convenience (scalability). Despite the transition to POL, market prices have barely moved. All eyes are on BTC to reach a new ATH. Once it does, alts like POL and the likes will go to the moon. So there's that. With so many L2 projects built on ETH these days, I wonder if Polygon will have a future?

The migration seem to be just the change in name. I don't find any difference prior to being MATIC or now POL. They do provide some technical jargon but the real experience is not much different. The fees are are similar or more than other L2s and there's not much new things happening on the network. It's also a matter of hype but also of the technology involved that increases the speed and decreases the price. The hype war is being led by TON while technologically newer L2 like zksync, manta, Injective EVM seem to impress me.

[fikrett]

The migration seem to be just the change in name. I don't find any difference prior to being MATIC or now POL. They do provide some technical jargon but the real experience is not much different. The fees are are similar or more than other L2s and there's not much new things happening on the network. It's also a matter of hype but also of the technology involved that increases the speed and decreases the price. The hype war is being led by TON while technologically newer L2 like zksync, manta, Injective EVM seem to impress me.

Yep, due to mini-apps TON is now on the hype train, and I agree, there may be many jargon about what was done on the POL, but as I've seen on this thread, experience didn't change - that - much to the point that it was worth it to do the rebrand.
Only time will tell how it will go.