Polygon, originally known as Pol Network, was created in India in 2017. It was created by experienced Ethereum developers including Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, along with Mihailo Bjelic.
Pol Network launched in 2020 and has attracted some of the biggest names in decentralized finance, also known as DeFi, including Decentraland and MakerDAO. Pol Network changed its name to Polygon in February 2021.
In its April 2019 IPO, the Polygon team raised the equivalent of $5.6 million in ether (ETH) by selling 1.9 billion POL tokens in 20 days.