Polygon priceMATIC

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MATIC price live data

The current price of Polygon is --, with a 24-hour trading volume of --. In the last 24 hours, the price of Polygon increased by 3.25%. With a circulating supply of 6,872,890,164 MATIC and a maximum supply of 10,000,000,000 MATIC, Polygon's fully diluted market cap stands at --. Currently, Polygon ranks No.8 by market cap. The MATIC to price is updated in real-time.

Polygon market information

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6,872,890,164 MATIC
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About Polygon (MATIC)

Polygon (formerly Matic Network) is a Layer-2 solution for Ethereum that allows developers to create interoperable, scalable blockchain applications with low gas fees. MATIC is the name and ticker symbol of Polygon's native ERC-20 Token.

Ethereum is the blockchain of choice for building decentralized applications or DApps. However, as more applications are deployed on Ethereum, network congestion causes issues such as slow transactions, low transaction throughput, higher transaction fees and poor user experience. Polygon solves these issues by providing a Plasma-based framework for building decentralized applications.

The Polygon network uses Plasma technology to process transactions off-chain before finalizing them on the Ethereum network, which helps achieve a high transaction throughput. Theoretically, Polygon can process 65,536 transactions per second on a single sidechain at near-zero fees.

With Polygon, developers can deploy preset Ethereum-compatible blockchains in one click. Polygon also provides modules like a pluggable consensus, staking and governance, allowing developers to build customized blockchains.

Although Polygon uses Ethereum as its parent blockchain, it is blockchain-agnostic, meaning Polygon is interoperable with other blockchains.

MATIC is used to participate in the network's governance, pay transaction fees on the platform, distribute staking rewards and stake collateral to become a validator.

Significant projects like Aavegotchi, Decentral Games, Easyfi, Neon District, Polymarket, and SushiSwap, among others, use Polygon's architecture.

MATIC price and tokenomics

MATIC tokens have a maximum supply of 10 billion. Polygon distributed MATIC tokens via a private sale and a launchpad sale. In the private sale, 3.80% of the total supply was sold to seed investors (2.09%) and early supporters (1.71%). During the launchpad sale, 19% of the MATIC supply was sold, raising $5 million.

Additionally, 16% of the total supply was allocated to the founders, 4% to advisors, and 12% to run network operations smoothly. Lastly, 21.86% and 23.33% of all MATIC tokens were reserved as foundation and ecosystem incentive tokens, respectively.

MATIC tokens are released into circulation every month. As per Polygon's release schedule, all MATIC tokens will be released by December 2022. This limited supply should have an impact on MATIC's price. The demand for Polygon's infrastructure drives the market demand for MATIC and, subsequently, MATIC's price.

About the founders

Polygon was co-founded in 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. Before creating Polygon, the Polygon team was a significant contributor to the Ethereum ecosystem. Their contributions include Plasma MVP, the WalletConnect protocol and the popular Dagger event notification engine on the Ethereum blockchain.

Kanani, currently the CEO of Polygon, worked as a data scientist at before co-founding Polygon. Nailwal served as the CEO of Scopeweaver and the CTO of Welspun group. Arjun worked as a product manager at IRIS Business, SNL Financial, Dexter Consultancy and Cognizant Technologies.

Learn more about Polygon (MATIC)

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Polygon FAQ

What is MATIC?

Polygon is a framework for building interoperable blockchains on the Ethereum network. The project solves some of Ethereum's significant limitations, including low throughput, scalability issues, a poor user experience, delayed transactions and an absence of community governance using its native sidechain solution.

MATIC is the name and ticker symbol of Polygon's native ERC-20 token.

How does MATIC work?

Polygon supports stand-alone Ethereum-compatible blockchains and secured chains that leverage a pool of professional validators to provide security. These sidechains are built using Plasma Chains, ZK-rollups or Optimistic Rollups based on how transactions are bundled before being sent to Ethereum. These sidechains help Polygon maintain low gas fees and achieve higher scalability.

Polygon also offers several consensus and governance tools, various execution environments and virtual machine implementations for developers to deploy their custom blockchains quickly.

Where can I buy MATIC?

You can buy MATIC from OKX exchange. OKX offers the MATIC/USDT and MATIC/USDC trading pair. Alternatively, you can buy MATIC directly with fiat or convert your crypto to MATIC.

Before you begin trading with OKX, you need to create an account. To buy MATIC with your preferred fiat, click "Buy with card" under "Buy Crypto" on the top navigation bar. To trade MATIC/USDT or MATIC/USDC, click "Basic Trading" under "Trade." Under the same tab, click "Convert" to convert crypto to MATIC.