POL - Polygon

What is Polygon (POL)?

Polygon, formerly known as the Matic Network, is a Layer 2 scaling solution for Ethereum. It is an open-source platform that aims to provide faster and cheaper transactions on the Ethereum network. Polygon achieves this by using a combination of technologies, including Plasma, Proof-of-Stake (PoS), and ZK-rollups. Learn more

POL is Polygon's new native token, which replaces the previous MATIC token. POL is part of Polygon’s latest upgrade to expand its network to a "multi-chain ecosystem". POL is used for governance decisions across the Polygon network, allowing token holders to vote on changes to the protocol. Like MATIC, it's also be used for staking and securing the network, earning rewards in the process. POL also allows users to secure multiple chains within the Polygon ecosystem, whereas MATIC is limited to securing the single Polygon PoS chain. POL is intended to be a more versatile asset across different Polygon-powered chains.

For all information on the MATIC to POL migration, please read our help guide here.

POL can be deposited or withdrawn using any of the following networks:

• Ethereum
• Polygon.

How to Deposit POL Into Your Coinmetro Account

For all information on how to deposit POL into your Coinmetro account, please see the following help center article: How to Deposit POL. Please ensure POL is deposited on the Polygon network to avoid losing your funds.

How to Withdraw ETH From Your Coinmetro Account

For all information on how to withdraw ETH from your Coinmetro account, please see the following help center article: How to Withdraw ETH.

Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.

Withdrawals waiting for approval can be cancelled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.