Polygon (MATIC) is used to power Polygon. Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
The MATIC token serves dual purposes, securing the network through staking and being used for the payment of transaction fees.
Notes:
- As of 19th January 2022, Bitfinex supports both mainnet and ERC-20 based MATIC tokens that can be converted via the currency conversion tool (see below).
- Polygon Mainnet (MATICM) token holders will not be eligible for staking rewards; instead, they must convert to MATIC (ERC-20) using the currency conversion tool (see below).
- The API symbol for mainnet MATIC token is MATICM, while ERC-20 based MATIC is MATIC.
- As of 2nd September 2024, MATIC was upgraded to Polygon Ecosystem Token (POL). More information here. MATIC can be converted to POL via the currency conversion tools (see below).
- As of 20th September 2024, Polygon Mainnet (MATICM) was renamed Polygon Ecosystem Token on Polygon (POLM). More information available here. MATIC and POLM can be converted via the currency conversion tools (see below).
Deposit Note:
- MATICM deposits made via smart contract will require manual processing; in this case, please contact Bitfinex Support.
Conversions
MATIC (ERC-20) can be easily converted to POLM (Mainnet), and both can be easily converted to POL on your Wallets page using the Currency Conversion tools.
Note: Trading is available for MATIC (ERC-20) tokens only. In order to trade POLM (Mainnet) tokens on Bitfinex they need to be converted to MATIC (ERC-20) tokens.
Discover more about MATIC on the Bitfinex Blog.
Supported Transport Protocol
- ERC-20
- Mainnet
Supported Blockchain
- Ethereum
- Polygon
Useful links