Polygon Foundation Prepares 100M POL Permanent Burn Contract for Mainnet Deployment

Polygon Foundation's CEO Sandeep Nailwal revealed on X that the foundation is preparing a contract to permanently burn 100 million POL tokens. Nailwal stated the contract is currently on testnet and will be deployed to mainnet upon final security committee approval. The first execution will burn 100 million POL in one go, after which community members can execute quarterly burns. Defiant reported that this burn amount represents approximately 83% of the 121 million POL accumulated in Polygon's fee collection system.