The Matic Network is a platform enabling Ethereum scaling and foundation development. Lately, the project was renamed Polygon, but the trading ticker remains $MATIC. Matic is a so-called Layer 2 scaling solution which means it features significantly lower gas fees, fast transaction finality while still relying on the security mechanisms the Ethereum mainnet .

$MATIC is the native token of Polygon. It is an ERC-20 token operating on the Ethereum blockchain. The tokens exchange services on Polygon and serve as a contract currency between users who run within the Polygon ecosystem. The transaction fees on Polygon are paid in $MATIC tokens.