Polygon is a suite of Ethereum-based scaling solutions designed to enhance the performance of the Ethereum blockchain by moving computation and data storage off-chain into low-fee, high-speed environments. It has evolved from a single chain into a diverse network of blockchains, driven by the need for interoperability among blockchains.

The POL token replaced the MATIC token as the native token of the Polygon PoS and will serve as the native token of the Polygon 2.0 ecosystem. The POL token's functionalities include being used for payment to settle network gas fees, staking by validators to secure all blockchains within the Polygon 2.0 ecosystem, rewarding validators, and governance for system smart contracts.