### What is Wrapped Matic (WMATIC)?

Wrapped Matic (WMATIC) is a tokenised version of MATIC, the native cryptocurrency of the Polygon network. As an ERC-20 token, WMATIC is designed to ensure compatibility with Ethereum-based protocols and applications while maintaining a 1:1 peg with MATIC.

### How does Wrapped Matic (WMATIC) work?

WMATIC operates on both the Polygon and Ethereum networks, leveraging their respective strengths. Key functionalities include:  
- **Wrapping and Unwrapping**: Smart contracts allow users to wrap MATIC into WMATIC or convert it back to MATIC.  
- **ERC-20 Compatibility**: Enables seamless integration with Ethereum-based DeFi protocols.  
- **Cross-Chain Interoperability**: Bridges the Polygon and Ethereum ecosystems, facilitating faster and more cost-effective transactions.  

WMATIC inherits Polygon’s Proof of Stake (PoS) consensus mechanism while benefiting from Ethereum’s expanding DeFi ecosystem.

### What are the potential use cases for Wrapped Matic (WMATIC)?

WMATIC serves various applications across decentralised finance and cryptocurrency ecosystems, including:  
- **Staking**: Participating in DeFi protocols to earn rewards.  
- **Liquidity Provision**: Supplying liquidity on decentralised exchanges.  
- **Collateral**: Acting as collateral for lending and borrowing platforms.  
- **Yield Farming**: Maximising returns through DeFi strategies.  
- **Trading**: Facilitating token swaps within the Polygon ecosystem.  
- **Cross-Chain Transfers**: Bridging assets between Polygon and Ethereum networks.  

Key industries include DeFi, cryptocurrency trading, gaming, and NFT marketplaces.

### What is the history of Wrapped Matic (WMATIC)?

WMATIC was introduced as part of the Polygon ecosystem to enhance the utility and compatibility of MATIC tokens within Ethereum-based applications.

#### Significant Milestones:
- **Token Launch**: Released as an ERC-20 token for Ethereum compatibility.  
- **DeFi Integration**: Adopted by major DeFi protocols and decentralised exchanges.  
- **Ecosystem Adoption**: Widely used across projects within the Polygon network.  

#### Evolution:
WMATIC has grown alongside the Polygon network, becoming a cornerstone of its DeFi ecosystem. As Polygon’s layer 2 scaling solution gained popularity, demand for WMATIC increased due to its role in cross-chain transactions and its utility in various DeFi applications.


Wrapped Matic

Deposits are not currently available for this coin.

Important Notice

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Wrapped Matic (WMATIC)

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