Discussion Arises on Renaming POL Back to MATIC by Polygon's Co-Founder
Sandeep Nailwal, co-founder of Polygon, is weighing the possibility of reinstating the former MATIC token name due to widespread recognition among users.
Polygon co-founder Sandeep Nailwal has sparked a lively debate about the branding of the project’s token, expressing the possibility of reintroducing the former ticker MATIC, which many users still recognize. He mentioned that despite his personal preference to maintain the POL ticker, he has received numerous comments indicating that the MATIC branding resonates more with users, especially casual retail customers searching for the token’s information.
“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.”
Because of this persistent feedback, Nailwal took to social media to inquire if the broader Polygon community supports the idea of reverting to the MATIC name.
Cointelegraph attempted to get a comment from Polygon but had no response by the time of writing this article.
Polygon Token Suffering 89% Decline from Its Peak
On September 4, 2024, Polygon transitioned from MATIC to POL, branding it as an upgrade. At the time, Polygon Labs CEO Marc Boiron commented that POL offered enhanced features compared to its predecessor.
Analytics from CoinGecko indicate that POL peaked at $1.29 on March 13, 2024, yet it currently trades at $0.13, marking an 89% plunge.
Community Divided Over Token Naming
Responses from the community to Nailwal’s inquiry have been mixed. Some members emphasized that the name isn’t as crucial as the project’s fundamentals, while others argued that retaining the MATIC name is vital for brand recognition.
One user, martijnde_boer, stated that the project should prioritize development over naming conventions. Another insisted that the POL ticker has already gained traction and should be retained.
On the contrary, several users voiced their attachment to the MATIC name, recalling early experiences and the importance of familiarity for new investors. One community member, Mo Ezeldin, suggested that the reversion to MATIC might attract more retail participation, given the current market climate.
Additionally, questions arose about alternative tickers. One suggestion was PGON, proposing a more intuitive name for newcomers.
Related: Polygon boss says he’s been ‘questioning his loyalty’ toward Ethereum
