Polygon to Burn 100 Million POL Worth $1 Million, Announces Co-Founder

Polygon (POL) co-founder Sandeep Nailwal announced on X that Polygon has completed preparations to permanently burn 100 million POL (approximately $1.077 million). He explained the team is currently operating the related contract on testnet, and once final security committee approval is obtained, the contract will be deployed to mainnet. After deployment, any community member can execute the burn, instantly removing 100 million POL from circulation. Nailwal added that quarterly community burns will follow post-deployment. Polygon reported achieving $24.5 million in cumulative revenue by 2026, with network fees accumulating at 121 million POL. POL has been in deflationary mode since January, and transaction processing speed has expanded to 5,000 transactions per second.