MATIC is now POL. Everything you need to know

The Polygon network and its native token MATIC have undergone some major changes. Here’s what’s changing, and what it means for you as a Confirmo user!

What’s new on Polygon?

In short, the Polygon network’s native token is changing from MATIC to POL. The new POL token will become the native gas and staking token on Polygon’s blockchain.

The Ethereum ecosystem struggles with fragmentation of its layer-2 solutions. Polygon developers are actively working on bringing them together while improving scalability and privacy. These technologies include zero-knowledge rollups and the AggLayer.

The recent update allows for a smoother development of these features, and one of the aspects are the changes to the network’s native token. The goal here is to increase its utility while setting the stage for further developments.

How does this affect your Confirmo implementation?

We have adjusted our service to minimize or completely prevent any impacts on your implementation. Please note that:

• In your Confirmo account, your MATIC balance will now be displayed as POL balance.
• To keep things simple, all occurrences of MATIC in your invoice history will be now displayed as POL instead.
• Whenever you’re sending an asset code to our API, such as when viewing invoices paid in MATIC, our API will now accept both MATIC and POL to ensure backward compatibility.
• When receiving values from our API containing the asset code, it will now return POL instead of MATIC. This is the only breaking change if your system explicitly interacts with MATIC (to-be POL) on the Polygon network.
  • For example, the currencyTo field returned from GET /v3/invoices/{hashId} will now return POL instead of MATIC for invoices your end users paid in MATIC/POL on the Polygon network.

Our API documentation will be updated accordingly.

In short, what to expect?

• After September 17th, you’ll see POL instead of MATIC in your Confirmo dashboard and invoices.
• All functionalities remain the same.
• You’ll need to adjust your system if you’re expecting to read MATIC from our API.

Beyond Confirmo, this is a major change for Polygon that sets the stage for further exciting developments in the ecosystem. You can read more in Polygon’s official blog post.

Learn more about the change to Polygon and POL in Polygon’s official blog post on the topic, or this great summary by Currency Analytics.