Polygon, MATIC, POL, Polygon Labs - it's a dizzying array of names that can leave even the most seasoned crypto enthusiasts scratching their heads. But what's behind this cryptocurrency's endless name changes? In this article, we'll delve into the history of Polygon's name changes and explore how the company has evolved over time.

The Early Days: Matic Network

Polygon's journey began in 2017 as the Matic Network, a blockchain company founded by Sandeep Nailwal, Jaynti Kanani, Anurag Arjun, and Mihailo Bjelic. Initially designed as a simple sidechain to scale the Ethereum mainnet, Matic's main chain went live on March 30, 2020. The network quickly gained popularity due to its scalability and low gas fees, making it an attractive option for developers and users alike.

The Rebrand: Polygon Labs

As the crypto bull run of 2021 picked up speed, the Matic team recognized that their focus needed to expand beyond just one network. They needed a new name that reflected their loftier ambitions. In February 2021, the Matic network announced that it was expanding its vision, pushing the boundaries of what was possible in the cryptocurrency industry. This marked the beginning of the end for the Matic name, as the company rebranded to Polygon Labs.

The New Name: Polygon

The name change was inspired by the Greek words 'poly', meaning many, and 'gon', meaning sides and angles. The new name reflected Polygon's new vision, aiming to expand the possibilities of blockchain technology from a range of new angles. The rebrand also required a facelift for brand imagery and logos, with the original MATIC logo giving way to a more abstract, purple-colored logo.

The Token Migration: MATIC to POL

Fast-forward a few years, and Polygon Labs is preparing for a dramatic token migration. The team has opted to transition to a new native token, POL, which promises greater security and scalability. MATIC holders will have four years to migrate their existing tokens to the new contract, exchanging MATIC for POL at a 1:1 ratio.

Why This Matters

The token migration from MATIC to POL is likely to be a popular attack vector for hackers and scammers. It's essential to stay informed on the process and only trust official sources.