Polygon History.

Matic Network is founded

The team begins its Ethereum scaling project under the Matic Network name.

Sources: Polygon · Matic Network becomes Polygon.

The seed sale

Approximately $165,000 raised; 209 million MATIC, or 2.09% of the initial supply.

Sale price: $0.00079 USD per MATIC. Implied initial FDV: $7.9M, using the original 10 billion MATIC supply. This is separate from circulating market cap.

Sources: Binance Research · Matic Network, section 3.2.

The early-supporter sale

Approximately $450,000 raised; 171 million MATIC, or 1.71% of the initial supply.

Sale price: $0.00263 USD per MATIC. Implied initial FDV: $26.3M, using the original 10 billion MATIC supply. This is separate from circulating market cap.

Sources: Binance Research · Matic Network, section 3.2.

MATIC on Binance Launchpad

All 1.9 billion offered MATIC were sold, representing 19% of the initial supply and approximately $5 million.

13,170 users claimed 28,547 tickets; 16,666 tickets won, held by 9,443 users.

58.38% is the share of winning tickets, not the share of token supply sold or the share of participating users.

Sale price: $0.00263 USD per MATIC. Implied initial FDV: $26.3M, using the original 10 billion MATIC supply. This is separate from circulating market cap.

Sources: Binance · Launchpad announcement; Binance · Matic Token Sale Results, 25 April 2019.

MATIC’s overnight crash

MATIC falls to 0.01124 USDT on Binance on 10 December, after reaching 0.04269 USDT the previous day: a peak-to-trough decline of about 74%.

Sandeep Nailwal publicly responds to the crash and denies that the team caused the sell-off. Contemporary reporting also records Binance’s investigation.

The daily close on 10 December is 0.01725 USDT, after a recovery from the low. The chart shows that daily close; the card describes the overnight drawdown.

Sources: Binance · MATIC/USDT daily and hourly klines, 9–10 December 2019; The Block · Contemporary crash report, 10 December 2019 (corrected 12 December); AMBCrypto · Sandeep Nailwal’s response, 10 December 2019.

Black Thursday

Crypto markets sell off sharply during the COVID-19 liquidity shock on 12 March 2020, alongside turmoil in global financial markets.

Sources: Coinbase · Around the Block #4, the March 2020 crash.

Matic mainnet launches

Matic launches the mainnet that becomes Polygon PoS.

Sources: Polygon Forum · Counter Stake Weekly Update 10.

Polymarket public beta

Polymarket becomes publicly available as a prediction-market platform.

Sources: Polymarket · A new Polymarket is coming, 21 September 2020; Ontario Capital Markets Tribunal · Agreed facts, paragraph 7; Forbes · Contemporary launch and funding coverage, 19 October 2020.

Matic becomes Polygon

Matic Network rebrands to Polygon and broadens its Ethereum scaling vision. The token remains MATIC.

Sources: Polygon · Matic Network becomes Polygon.

A $1 billion commitment to ZK

Polygon commits $1 billion of its treasury to zero-knowledge efforts, including acquisitions, development, talent, adoption and research.

Sources: Polygon · ZK thesis and $1B treasury allocation.

Bitcoin reaches $69K

Bitcoin reaches an intraday all-time high of approximately $69,000 on 10 November 2021. CoinGecko’s 2021 review reports $69,045.

Sources: CoinGecko · 2021 Yearly Cryptocurrency Report.

The $450 million private sale

A private MATIC sale led by Sequoia Capital India raises approximately $450 million.

Sale price: not disclosed.

Sources: Polygon · $450 million private-sale announcement.

Terra / LUNA collapses

TerraUSD loses its dollar peg and the UST/LUNA system enters a collapse. The core phase of the crisis spans 9–13 May 2022.

Sources: BIS · Annual Economic Report 2022, Terra collapse beginning 9 May; IMF staff · Terra collapse presentation at BIS, June 2022.

FTX files for bankruptcy

FTX and affiliated companies, including Alameda Research, file for Chapter 11 bankruptcy protection in the United States on 11 November 2022.

Sources: Louisiana Office of Financial Institutions · FTX Files Chapter 11 Bankruptcy.

POL is proposed

Polygon founders and researchers publish the POL token proposal and whitepaper.

Sources: Polygon · Polygon 2.0 Tokenomics.

POL launches on Ethereum

POL contracts become live on Ethereum mainnet and the upgrade process is initiated.

Sources: Polygon · POL contracts are live on Ethereum.

Spot Bitcoin ETFs approved

The U.S. SEC approves the listing and trading of spot Bitcoin exchange-traded product shares on 10 January 2024.

Sources: SEC · Statement on the Approval of Spot Bitcoin Exchange-Traded Products.

MATIC becomes POL

POL succeeds MATIC as Polygon PoS’s native token. The migration ratio is 1:1.

Sources: Polygon · MATIC to POL migration is live.

The payments pivot

On 12 June 2025, Polygon describes payments as the first pillar of its roadmap and sets out a global-payments focus.

On 8 January 2026, the Open Money Stack announcement gives the payments strategy a distinct product framework.

Sources: Polygon · 12 June 2025 roadmap and payments focus; Ledger Insights · Open Money Stack announcement, 8 January 2026; Polygon · Payments-company strategy, 13 January 2026.

Bitcoin reaches $126K

Bitcoin reaches a new intraday record of approximately $126,000 on 6 October 2025. Exact peak quotes differ between market-data providers.

Sources: Coinbase · Bitcoin price history and all-time-high date.

ICE backs Polymarket

ICE, owner of the New York Stock Exchange, announces an agreement to invest up to $2 billion in Polymarket at an approximately $8 billion pre-investment valuation.

Sources: ICE · Strategic investment in Polymarket, 7 October 2025.

PAWLY launches

PAWLY launches on Polygon with its PAWLY/POL Genesis Pool. The launch has no presale or investor allocation, and the three liquidity positions are permanently locked.

Sources: POLTRACK · PAWLY launch record, Polygon block 94,150,123; Polygon · PAWLY Genesis Pool launch transaction, 20 September 2026.