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#Polygon Foundation

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Token Burns Continue for Popular Altcoin; Latest Burn Amount Revealed
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Token Burns Continue for Popular Altcoin; Latest Burn Amount Revealed

Key Highlights Polygon Foundation CEO Sandeep Nailwal announced on September 24 that 100 million $POL tokens have been permanently burned, removing approximately 1% of the total supply from circulation. The tokens were sent to an inaccessible address in a process known as “token burning,” making them permanently unrecoverable and unable to re-enter the market. Nailwal’s ...

Polygon to Permanently Burn 100 Million POL Tokens
Coins•

Polygon to Permanently Burn 100 Million POL Tokens

Key Highlights Polygon Foundation CEO Sandeep Nailwal announced a permanent burn of 100 million $POL tokens, with the contract already deployed to testnet and pending Polygon Security Council signatures for mainnet launch. The one-time burn draws from a fee collector holding roughly 121 million $POL, and the community will be able to continue quarterly burns ...