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Polygon (previously known as Matic Network) is a proof-of-stake network that offers Ethereum scaling solutions by providing users faster transfers while having cheaper fees. Polygon network is also built and native to the Ethereum blockchain which essentially helps developers utilize its set-up for various Ethereum-compatible decentralized projects/applications.
MATIC is Polygon network’s native utility token. Despite MATIC network’s rebranding to Polygon last February 2021, the network has chosen to retain its native token’s moniker.
You may click this link to learn more about Polygon network.