Polygon Co-Founder Weighs Reverting POL Token Back to MATIC

Polygon co-founder Sandeep Nailwal sparked a public discussion on the project’s token branding, asking whether the network should revert its ticker from POL back to MATIC. He said he favors retaining POL but continues to receive feedback that the original MATIC ticker had stronger recognition among retail users, who are reportedly struggling to find the asset following the rebrand.

Nailwal noted that small merchants and ride-hailing drivers were familiar with MATIC and now do not recognize POL. He invited feedback from the broader community on X, stating that the issue of brand recognition has been raised repeatedly.

Source: Sandeep Nailwal

Polygon token trades 89% below its record high

On Sept. 4, 2024, Polygon migrated MATIC to POL as part of an upgrade. At the time, Polygon Labs CEO Marc Boiron said POL “goes one step further” than MATIC. Whereas MATIC accrued fees from gas and staking, POL was designed to also earn fees from additional activities, including securing data availability and decentralizing a sequencer.

Polygon token’s one-year chart. Source: CoinGecko

According to CoinGecko, the Polygon token reached an all-time high of $1.29 on March 13, 2024. It is currently trading at $0.13, approximately 89% below that peak.

Community divided on returning to the MATIC ticker

Responses to Nailwal’s post reflected differing views, with some users arguing that the ticker is not material and that fundamentals matter more. Others said POL has already achieved initial acceptance and should be maintained.

Conversely, several community members said early adopters associate the network with MATIC and emphasized the importance of retail familiarity. Some argued that a return to MATIC could be beneficial ahead of a potential influx of new market participants.

Another user proposed exploring a different ticker, such as PGON, suggesting that while MATIC resonates with long-time users, a more intuitive symbol might aid discovery for newcomers.

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