MATIC (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.
- 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).
- MATICM (mainnet) 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.
- Your deposit address for MATIC (ERC20) and MATICM (mainnet) will be the same.
- MATICM deposits made via smart contract will require manual processing; in this case, please contact Bitfinex Support.
MATIC (ERC-20) can be easily converted to MATICM (mainnet) on your Wallets page using the Currency Conversion tool.
Note: Trading will be available for MATIC (ERC-20) tokens only, in order to use MATICM (mainnet) tokens on Bitfinex they need to be converted to ERC-20 tokens.