Although Ethereum is the second-largest blockchain in the world, it still has many disadvantages. The main disadvantages are the low speed of transactions and high gas fees. Fortunately, the Polygon protocol and Polygon token solve these problems by building and connecting Ethereum-compatible blockchain networks. In the following paragraphs, you’ll find a brief description of this solution. Also, you’ll learn how to trade POL tokens on the Tokpie exchange and buy POL with a bank card.
Update
Update:
As part of Polygon’s strategic migration from MATIC to their newly launched POL token, MATIC trading has been officially halted. Starting September 28, 2024, all listing and trading activities will focus on the POL coin.
Trading is available on the POL/USDT market. Depositing and withdrawing POL coins is now available via the Polygon PoS network on Tokpie.
Tokpie users automatically receive POL coins on their accounts as a replacement for MATIC tokens due to a 1:1 proportion rate. Due to a 1:1 proportion rate, Tokpie users automatically receive POL coins on their accounts as a replacement for MATIC tokens.
This transition marks a significant step in Polygon’s evolution, enabling enhanced scalability and interoperability within the network.
What’s the Polygon protocol?
Polygon, formerly known as Matic Network, is a Layer 2 scaling solution for Ethereum that aims to address the network’s limitations in scalability, throughput, and transaction costs. By utilizing sidechains and a Proof-of-Stake (PoS) consensus mechanism, Polygon offloads transaction processing from the congested Ethereum mainnet. This allows for faster and more cost-effective transactions, enhancing the user experience for decentralized applications (dApps) built on the platform. Polygon’s modular framework supports various scaling solutions, including Plasma, zkRollups, and Optimistic Rollups, allowing developers to choose the best tool for their specific needs. The protocol maintains full compatibility with Ethereum’s ecosystem, ensuring seamless interoperability and allowing developers to leverage existing tools and smart contracts. By focusing on scalability and user experience without compromising on security and decentralization, Polygon plays a pivotal role in advancing the adoption of blockchain technology.
What’s the POL coin?
The Polygon Ecosystem Token (POL) is the newly introduced native token designed to be the lifeblood of the Polygon ecosystem. Set to replace the existing MATIC token, POL inherits and expands upon its predecessor’s utility functions in governance, gas fees, and network security. As the primary gas token within the Polygon Proof-of-Stake (PoS) network, POL is essential for facilitating transactions and interactions with decentralized applications (dApps). Users pay gas fees in POL, incentivizing validators to verify and process transactions, which ensures the network’s smooth and secure operation. Validators and stakers play a crucial role in network security by staking POL, participating in the consensus mechanism, and earning rewards for their contribution.
POL also empowers holders to participate actively in the network’s governance. POL holders can influence key decisions through Polygon Improvement Proposals (PIPs), contributing to the ecosystem’s decentralization and evolution. A unique aspect of POL is its “hyperproductive” nature, allowing validators to secure multiple chains within the Polygon network. This feature enhances scalability and security, as validators can perform diverse roles across the ecosystem. Additionally, POL introduces an emissions model that allocates a portion of its supply to community grants. These grants fund development and innovation initiatives, fostering community-driven growth and ensuring that resources are available for projects that can expand and enrich the Polygon network. The transition from MATIC to POL reflects Polygon’s commitment to building a more efficient, scalable, and decentralized platform, with POL positioned at the core of its future development.
- Coin: Polygon Ecosystem Token
- Symbol: POL
- Max total supply: 10,000,000,000 (2% yearly emission)
- The native coin for Polygon PoS: 0x0000000000000000000000000000000000001010
How to buy POL coins?
To purchase POL tokens for USDT do three simple steps:
- Fund your account with USDT. If you don’t have crypto, you can purchase it with a bank card in few minutes.
- Open the POL/USDT order book and place your trade order to buy. Use this instruction if you don’t know how to place a trade order.
- Withdraw POL tokens to your personal ERC20 wallet or hold them on the account.
How to buy POL with a Bank Card or Apple Pay?
Use your bank card or Apple Pay to purchase POL tokens for your local fiat currency.
- Log in and generate the USDT (ERC-20) address by clicking on the [+ Deposit] button here.
- On the bank card processing page, enter the generated address and the USDT amount, then click on the “Continue” button.
- After getting a confirmation email, obtain POL tokens here.
How to sell POL coins?
To sell POL tokens for USDT, do three simple steps:
- Deposit POL tokens into your account.
- Open the POL/USDT order book and place your trade order to sell. Read the instructions if you don’t know how to place a trade order.
- Withdraw USDT to your personal wallet (ERC20 / BEP20) or hold them on the account.
How to deposit POL coins?
To deposit POL coins into your Tokpie account, follow this guide. Also, make sure that you are going to deposit in via the Polygon chain. If you deposit the wrong tokens or the wrong blockchain type, Tokpie cannot identify your transfer.
Note: Tokpie doesn’t charge any fees for depositing.
How to withdraw POL coins?
To withdraw POL coins from your Tokpie account, use these instructions. Besides, you must have a Polygon-compatible wallet address to withdraw tokens. Also, check the withdrawal commission.
Disclaimer
Also, please be aware that Tokpie charges a fee for the listing. Tokpie does not give any investment, legal, tax, financial advice, or warranty of token price performance.
Useful links to trade POL coins
- The Polygon’s website.
- Market to trade Polygon tokens:
- Also, check trade statistics on Tokpie.
- Tokpie’s trade fees and withdrawal commissions.
For any questions, contact Tokpie at https://t.me/tokpie.