There is a proposal to transition the native token of the Polygon PoS network from MATIC to POL. Please find more information here.
MATIC serves as the native cryptocurrency for the Polygon network, analogous to how Ether functions within the Ethereum ecosystem. To engage with the Polygon network, users must use MATIC tokens, which are necessary to cover gas fees for transactions, smart contract interactions, and part of the network’s security model via staking.
This is an example script to send MATIC tokens from one account to another on the Polygon chain.
Acquiring MATIC tokens can be achieved through methods such as validator rewards, staking, or on the open market.
For testing purposes on the Mumbai Testnet, test MATIC can be obtained, which does not hold any real-world value. This can be done via the Polygon faucet in the following way:
- Visit the Polygon Faucet
- Select MATIC Token
- Choose the Mumbai network
- Enter your account address and confirm