What token type is ETH on the Polygon network?

Viewed 470

I am looking to work with ETH tokens on the Polygon network. My aim is to build a simple payment splitting application. Primarily to split royalties from Opensea. The issue I have come across is that Opensea doesn't seem to pay royalties in Matic token, instead, royalties are paid in ETH (plus other tokens).

I understand how to handle the network native, Matic, as well as ERC20 tokens. My main question is, what token type is ETH on the Polygon network? Is it an ERC20 (or similar) used to represent ETH on Polygon or does it have a special token type and privileges by virtue of Polygon being a layer two solution for Ethereum?

I'm sorry if this is a basic question, I tried to find answers online but because of the keywords all of the results were about bridging ETH to Polygon.

2 Answers

ETH on the Polygon network is ERC-20 compatible token. Ethereum does not really exist on Matic, it is bridged there over a custodial Matic bridge, so the security guarantees won't be the same.

Related