MATIC is the ERC-20 token on Ethereum blockchain and has 2 main functions:
1. Fees - MATIC's main function is being a unit of payment for transaction fees on the Polygon platform and is the medium currency for all transactions on the system as well.
2. Staking - In order to be selected as a validator on Proof-of-Stake, the users must stake their MATIC to ensure the honest validation of blocks.
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