Matic as Gas Token

MATIC token is the native token of matic network. This is similar to Ether in Ethereum. For recording transactions on the matic network, matic tokens are required to pay the gas fees.

  • On the Matic chain, the Matic tokens works as an ERC20 token, but also as the native token, both at the same time. This means that a user can pay gas with MATIC as well as send MATIC to other accounts.

  • The balance of both the native Matic native token and Matic ERC20 remains the same always. Each time gas (native matic) is spent, the balance of the Matic ERC20 token will also be reduced.

  • Getting the Matic token is really easy. You can deposit MATIC token from Ethereum to matic using the Matic web wallet.

  • On Ethereum, the matic ERC20 token can be purchased from the following exchanges :-

  • There are also other centralised and decentralised exchanges with ample liquidity. A list of all the exchanges can be found here

  • Once you complete the purchase, the matic token appears in the balance of your account on the ethereum network. The next step will be to transfer it to the matic network.

  • For doing so you can use the deposit feature availble on the matic web wallet. As soon as the deposit is completed, the matic token balance on ethereum network is reduced and the token balance on matic network is updated.

  • The web wallet can be accessed from https://wallet.matic.network/

  • Anyone who holds matic token can also transfer it to you on matic network.