How to Buy POL (ex-MATIC) (POL) in Australia

POL is the native token of Polygon, a network built to make using Ethereum cheaper and faster. Ethereum's own base layer can become slow and expensive when it is busy, so Polygon processes transactions on its own network and settles alongside Ethereum, which lets applications run at lower cost while staying close to the Ethereum ecosystem. The main network is Polygon PoS, a proof-of-stake chain where transaction fees are paid in POL and validators stake POL to help secure it.

POL was formerly known as MATIC. In 2024 the project migrated MATIC to POL, swapping each MATIC for one POL, as part of Polygon's shift toward a broader multi-chain design.

• Network: Polygon PoS, a proof-of-stake chain that scales Ethereum.
• Token: POL (formerly MATIC), used to pay gas fees and to stake.
• Compatibility: EVM-compatible, letting Ethereum tools and apps work on Polygon with little change.
• Design: a two-layer structure, Heimdall and Bor, that coordinates validation and block production.
• Uses: gaming, DeFi, NFTs and enterprise applications.

Who created Polygon, and why did MATIC become POL?

Polygon began in 2017 as Matic Network, founded by a team of software engineers including Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic. The project rebranded to Polygon in February 2021 as its scope grew beyond a single scaling solution. The token followed: on 4 September 2024 the network began swapping MATIC for POL one-for-one, so POL is the same project's token under a new name, updated to serve a wider multi-chain stack rather than a single chain.

How does Polygon work?

Polygon PoS is EVM-compatible, which means it behaves like Ethereum from a developer's point of view, so existing Ethereum smart contracts, wallets and tools work on it with little change. Under the hood it runs a two-layer design: a layer called Heimdall handles validator coordination and checkpoints, and a layer called Bor produces the blocks. Validators stake POL to take part in securing the network and earn rewards for doing so, and users pay their transaction fees in POL. By handling activity on its own faster, cheaper chain and anchoring to Ethereum, Polygon lets applications serve large numbers of users without Ethereum base-layer costs.

What is POL used for?

POL has two core jobs on Polygon PoS. It is the token used to pay gas, the fee for every transaction on the network, and it is the token validators stake to help secure and validate the chain. Beyond fees and staking, POL is the coin that ties Polygon's ecosystem together, used across the many applications built on it, from games and NFT projects to decentralised finance and enterprise tools. As Polygon expands into a multi-chain design, POL is intended to play a role across those connected networks too. This is general information only, not advice.

Can you stake Polygon (POL)?

Staking is part of how Polygon PoS works: validators stake POL to help secure the network, and holders can delegate their POL to a validator. This is a feature of the Polygon network itself rather than a product offered on Digital Surge, where POL is available to buy, hold and swap. To take part in on-chain staking, you would use a self-custody wallet after withdrawing your POL.

Things to consider before buying POL

Cryptocurrency is volatile, and the AUD value of POL can rise or fall sharply over short periods. Holding a digital asset carries the general risks of an emerging technology, and self-custody means you alone are responsible for your keys. Only commit an amount you are comfortable holding through price swings, keep your account secure, and be alert to scams. This is factual, general information only and not a recommendation. Consider your own circumstances and do your own research before buying, and speak to a qualified professional about tax.

Why Buy POL (ex-MATIC)?

Many Australians hold POL because it is the token behind Polygon, a widely used network for scaling Ethereum, because it pays the gas fees and secures the Polygon PoS chain through staking, and because Polygon is EVM-compatible so familiar Ethereum apps run on it. Digital Surge lets you buy POL with AUD via PayID or bank transfer and offers Australian-based support. This is general information only and not a recommendation; consider your own circumstances before buying any cryptocurrency.

Buying POL (ex-MATIC) in Australia: the quick recap

To buy POL (ex-MATIC) in Australia on Digital Surge: create a free account, verify your ID, deposit AUD via PayID or bank transfer, then buy POL (ex-MATIC). The whole process takes about five minutes, and your POL (ex-MATIC) is held safely in your Digital Surge wallet.

Learn more about POL (ex-MATIC)

On Digital Surge you can see the live POL (ex-MATIC) price and POL to AUD converter, see other coins in the Ethereum Coins category, or read what cryptocurrency is before you buy POL (ex-MATIC) in Australia.