Polygon's Name Change Sparks Confusion: Users and Falling Prices Lead to Demands for a Return to MATIC

Debate Rekindled Over Polygon’s Token Ticker Change

In September 2024, Polygon transitioned its token ticker from MATIC to POL, a move that has reignited discussion after co-founder Sandeep Nailwal publicly questioned whether the network should return to its original ticker. Although Nailwal personally supports the POL branding, he acknowledged ongoing concerns from everyday users—especially in regions such as the Philippines and Dubai—where the MATIC name still enjoys widespread familiarity and recognition.

These conversations have intensified as POL’s price currently stands at $0.13, marking an 89% drop from its March 2024 high of $1.29. This steep decline has prompted questions about whether the rebranding has negatively affected Polygon’s visibility in the market and shaken investor trust.

Technical Upgrade or Branding Setback?

The shift to POL was positioned as a technical enhancement, broadening the token’s functions to include data availability and sequencing fees, in addition to its existing uses for gas and staking. However, critics argue that the new ticker has weakened brand recognition, with many users reporting difficulties finding POL in their wallets and on exchanges.

Nailwal’s recent poll on X revealed a split within the community: some participants favor keeping POL to represent the token’s expanded capabilities, while others believe that the established MATIC brand offers stronger global recall and makes adoption easier. A minority has even suggested alternative tickers, such as PGON, to minimize confusion while signaling progress.

Market Impact and Community Sentiment

The ongoing price slump of POL has fueled speculation that the rebrand may have dampened investor enthusiasm. Analysts point out that retail investors—who are vital to the success of crypto projects—often value brand familiarity over technical upgrades. The confusion surrounding the POL ticker could therefore be slowing broader adoption. Many community members argue that reviving the MATIC name could help reignite interest, especially if the market rebounds.

Uncertain Path Forward

Polygon’s leadership has yet to announce a clear process for resolving the ticker debate, leaving the future direction open. While Nailwal stresses the importance of community feedback, Polygon Labs CEO Marc Boiron continues to highlight the technical strengths of POL. The company’s next steps will likely involve weighing user sentiment against strategic objectives, illustrating the broader challenge of evolving a crypto brand while meeting market expectations.