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I found "Matic Token".

I have understood that Matic is the native currency of Polygon Chain but I didn't know Matic Token. What is the difference between "Matic" and "Matic Token" and when are "Matic Token" more useful than "Matic"?

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"Matic" refers to the Layer 2 scaling solution, while "Matic Token" refers to the cryptocurrency used within that ecosystem.

"Matic":

  • the name of a Layer 2 scaling solution for Ethereum

"Matic Token" (also known as "Polygon Token"):

  • the native cryptocurrency of the Matic Network
  • ERC-20 token that is used as a utility token for various functions within the Matic ecosystem
  • Matic Tokens can be used to pay for transaction fees, as well as for staking and governance within the network.
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I don't think gatsbyz answer answers your question...

Posting an answer I found somewhere else:

"It's not really an ERC20 token as you think it is, the contract deployed at address(0x1010) on polygon mainly the bridges from and to Ethereum.

It does store everyones MATIC balance (which is why Metamask gets your balance, it just looks for a balanceOf() function and returns its output), and implements some methods from the ERC20 standard (the ones that contains the tokens metadata, like name(), symbol(), decimals()) but it isn't a token contract in itself. It doesn't implement any transfer methods, so you won't be able to use transferFrom like you would do for any other ERC20 (MATIC is the native chains token as you know, and is transferred like any other native token on other chains)."

Additionally, on the Ethereum mainnet, MATIC acts like an ERC20 token and should be transferred using ERC20 transactions.

On the Matic sidechain, MATIC acts like ETH and can be transferred by directly sending a message to the recipient with the MATIC amount in the 'value' field.

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  • Your answer is much better. The functions in the MATIC ERC-20 token contract on Polygon PoS are spoofed. For example, balanceOf() simply returns "account.balance", which returns the balance of native MATIC. This contract enables MATIC to act as both a native token and as an ERC-20 token on the Polygon PoS network.
    – HSuke
    Commented Sep 14, 2023 at 22:30

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