What is Polygon (MATIC)

MATIC, currently renamed as Polygon, (MATIC/USDT – Trade it here) is an Ethereum token that functions as a unit of payment and settlement underlining all transactions of the Polygon Network. Polygon is a layer 2 solution for the scalability issue of the Ethereum blockchain aimed at reducing the cost and speed of transactions in the blockchain ecosystem using the proof of stake consensus protocol.

Matic Token (Polygon)
Polygon Project Logo (Prev. named Matic Network)

Core Features of MATIC Network/Polygon

Polygon is aimed at constructing an interconnected network that is still simple enough to encourage developers and users alike to participate in the product market.

  • Transaction Speed and Scalability. Every block takes less than 2 seconds to confirm, enabling the MATIC network to be theoretically capable of processing up to 216 per second on a single blockchain.
  • Size of blockchain. System enables low-fidelity PoS nodes to run on low-cost/low-storage machines and intends to invite mobile-device-based PoS miners into the network in the future.

MATIC Tokenomics

There is a total supply of 10 billion tokens. Just over 7 billion tokens are now in circulation, and the remaining tokens are scheduled to be released on a monthly basis. 100% of the supply is expected to be in circulation by the end of 2022. The token’s current distribution is as below: 

  • Private sale: 3.8%
  • Launchpad sale: 19%
  • Team: 16%
  • Advisors: 4%
  • Network operations: 12%
  • Foundation: 21.86%
  • Ecosystem: 23.33%

With the proof of stake consensus protocol, network participants can earn MATIC tokens by validating and securing the network. Participants can also delegate their tokens tokens to validators in order to share a portion of the rewards. Token is also used to pay transaction fees on the Polygon Network as well.

How to buy MATIC Token?

You can buy MATIC on MEXC following the steps: 

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  1. Search “MATIC” using the search bar to see the available trading pairs. Take MATIC/USDT as an example.
  1. Scroll down and go to the [Spot] box. Enter the amount of MATIC you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy MATIC] to confirm your order. You will find the purchased tokens in your Spot Wallet.

Recent RVLT Token Price & Performance

MATIC reached the highest price (ATH) of 2.55 USDT on Janaury 1st, 2022. Lowest price since the date of ATH was at 0.347 USDT on June 18th, 2022.

MATIC Token Staking

On MEXC you can periodically stake MATIC and other tokens via MX DeFi event plus other staking products with flexible and fixed APYs. You can check the availability of the MATIC staking option here.

Interested in crypto like Polygon?

MEXC lists moonshot and provides access to trading of major crypto coins like MATIC, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

Share your love to MEXC Global
Default image
MEXC Blog
We are your first stop for high quality projects - Buy, Sell & Trade Cryptocurrencies, NFTs, Margin, ETF, Futures, DeFi!
Articles: 399
Read Learn Watch