Polygon CEO Sandeep Nailwal raises concerns that the community suggests reverting to MATIC

Polygon co-founder and CEO Sandeep Nailwal suggested on Wednesday to his followers whether the network should revert to its original ticker, MATIC. He said he was curious what the broader community thinks about the initiative.

Nailwal noted that the issue continues to surface in the Polygon trading community. He said that the community thinks MATIC was a far stronger and more familiar ticker. The network’s co-founder also acknowledged that the ticker had history, recognition, and was stuck in people’s minds.

Nailwal sees zero chance that exchanges will agree to the revert

Nailwal told the Polygon community that reverting the ticker to MATIC on exchanges is too much churn. He maintained that the network has already migrated to POL and should stick to it. 

The firm’s CEO argued that a sufficient number of people are familiar with the POL ticker, especially in the X community. He revealed that the argument he keeps getting is that local businesses, which were aware of MATIC, wonder where the digital asset went.

Nailwal added that another debate he encounters is that projects shouldn’t be basing their decisions on what the X community thinks. He argued that Crypto Twitter represents less than 5% of the total crypto trading population.

Polygon’s CEO also disclosed that the recurring feedback from the community made him curious about what the broader community thinks about a revert. He believes that there are zero guarantees that exchanges will agree to the initiative, but still hinted that it might be a significant upgrade on their end.

Crypto officials ponder the revert

Abhinav Mehta, head of partnerships at Mansa Finance, argued that the revert is unnecessary, saying that change doesn’t happen overnight. He urged Nailwal not to double-think the decision. 

Mehta said there’s no point in calling Polygon a chain that went from one name to another just because others didn’t hear about it and ended up changing it back to the original. One member of the Polygon community believes the network should do more to promote POL, including more brand deals to boost mainstream adoption.

President of Open Campus, Mo Ezeldin, said the early adopters and supporters of Polygon recognized the token as MATIC. He also noted that there hasn’t been a new wave of retail entrants into the POL ecosystem. Ezeldin believes that going back to the original ticker might actually be the play for the network.

Abdul Rafay Gadit, co-founder of ZIG Chain, acknowledged that MATIC had a different vibe to it. He also argued that reverting the ticker wouldn’t solve the network’s core problem. He said the old chart has already reset, and it won’t come back.

Peter Kim, a marketer at Coinbase, suggested that Nailwal should focus on marketing POL better. He urged Polygon to start by putting the POL ticker name in official Polygon X accounts. He also believes that relisting POL on Robinhood might go a long way in its recognition.

Polygon upgraded its PoS to POL in September 2024 as the native staking token. A year later, the network announced that the upgrade to MATIC had successfully reached 99%. 

The firm maintained that the Polygon Portal interface still offers a 1:1 migration for users still holding MATIC. Polygon revealed that the upgrade provided more utility to the network’s cross-chain ecosystem interoperability solution, Agglayer. 

Polygon also disclosed that the network’s PoS will soon integrate with Agglayer. The firm stated that the initiative aims to bring POL into the broader aggregated network.

At the time of publication, POL is trading at $0.1367, up by roughly 1% in the last 24 hours. POL has also plummeted more than 2.61% in the past 7 days and nearly 33% in the past 30 days.

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