Polygon FAQs

What is Polygon?

Polygon is a company that makes scaling solutions for Ethereum. The Polygon Proof of Stake (PoS) blockchain (formerly known as Matic) is their most popular solution. 

Polygon PoS (often referred to as just Polygon) is marketed as a “layer 2” scaling solution to the Ethereum blockchain. This means that users can bridge digital assets from Ethereum over to Polygon (via the Polygon PoS Bridge) to transact on its faster and cheaper chain. 

 

How do Polygon and Circle work together? 

Circle is providing support for Polygon USDC (a ‘bridged’ version of USDC) in the Circle Account and Circle APIs so that our customers will have faster and easier access to Polygon USDC. Circle did not create a ‘native’ version of USDC on Polygon. Circle is providing support for the existing, widely-used Polygon USDC on Circle’s platform.

 

Can my wallet address on Ethereum be reused for the Polygon network?

Please be aware and do not assume that an address on Ethereum can be reused on the Polygon network, even if it looks similar. Make sure to only deposit Polygon USDC to addresses our API indicates are valid Polygon addresses. Sending money to an address on the wrong blockchain will result in stuck funds, which are potentially impossible to recover.

 

Are there any unique deposit limits for Polygon USDC?

There will be a Polygon USDC deposit limit per customer of $100,000 per 7-day rolling period. If a customer exceeds this limit, the deposit which crosses the threshold will be stuck until the deposit amount + rolling 7-day volume is below the $100,000 limit. If a customer requests a limit increase, the limit can be adjusted on a case-by-case basis. Please reach out to your Customer Success Manager to discuss your unique Polygon USDC limits.

 

Why does Polygon USDC have unique limits? 

Polygon USDC has unique limits because it is a ‘bridged’ version of USDC. Bridged USDC is fundamentally different from native USDC. Please review our Bridged USDC Terms for more detailed information.

 

How long will it take my deposit of Polygon USDC to settle?

Circle’s platform requires 372 confirmations for transactions on Polygon before marking them as complete, which takes ~20 minutes. This process is performed to ensure the transaction is secured from any potential reorganization (“reorg”) of the Polygon blockchain. 372 represents 3X the number of confirmations needed to ensure transaction finality beyond a reasonable doubt, based on the largest reorg seen to date.

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