Polygon Ecosystem Token

Polygon, formerly Matic Network, is a scaling solution for Ethereum, providing fast and low-cost transactions. It is supported by platforms like Binance and Coinbase. Users can deposit Ethereum tokens into Polygon, interact with them, and withdraw them back to the Ethereum mainnet. The POL token is used for transaction fees and uses a proof-of-stake consensus mechanism, replacing the MATIC token following the network's upgrade.