Polygon co-founder Sandeep Nailwal has initiated a public discussion regarding the project’s token ticker, posing the question to the community whether the network should consider reverting its ticker from POL back to MATIC.
Nailwal stated that while he personally believes they should stick with POL, he has been consistently hearing feedback that the original MATIC ticker possessed stronger recognition, particularly among retail users who are now reportedly confused about the asset’s status.
“The counter-argument I keep getting is: the guy in the Philippines running a sari-sari store, or an Uber driver in Dubai, knew MATIC… and now he has no idea where it went,” he wrote on X.
Consequently, he asked his followers on X for their opinions on whether the token should be changed back to MATIC. “I’m genuinely curious what the broader community thinks, because this feedback keeps coming up,” he added.
Cointelegraph reached out to Polygon for comments but had not received a response by the time of publication.
Polygon Token Trades Significantly Below All-Time High
On September 4, 2024, Polygon upgraded its MATIC tokens to POL, presenting the change as an enhancement. At the time, Polygon Labs CEO Marc Boiron explained to Cointelegraph that POL “goes one step further” than its predecessor.
While MATIC primarily earned fees from gas and staking, the POL token is designed to also earn fees from additional actions, including staking.
CoinGecko data indicates that the Polygon token reached an all-time high of $1.29 on March 13, 2024. According to the data aggregator, the token is currently trading at $0.13, representing a decline of approximately 89% from its peak.
Polygon Community Divided on Potential MATIC Revert
Responses from the community to Nailwal’s post revealed a division between users who consider the ticker a minor issue and those who emphasize the importance of brand recognition.
One X user, martijnde_boer, suggested that Polygon should continue its development efforts, arguing that fundamentals are more critical than tickers.
This sentiment was echoed by another X user who stated that POL had already achieved initial acceptance. “I believe POL has already overcome the hardest part, which is initial acceptance. Stick with POL,” the user wrote.
Conversely, several community members argued that early adopters strongly associate the project with MATIC and that retail familiarity remains a powerful factor.
“We haven’t really seen a new wave of retail entrants into the markets, so going back to Matic might actually be the play here,” Mo Ezeldin wrote.
While some users advocated for and against the ticker change, another user proposed an alternative direction, suggesting a ticker like PGON.
“MATIC was the version most OGs remembered it by, but it probably feels less intuitive for new market participants to find it under that ticker. Maybe ‘PGON’ or something would’ve done the trick?” a user commented.