Polygon to Permanently Burn 100 Million POL Amid Whale Selling

Polygon is advancing plans to permanently burn 100 million POL tokens. AMBCrypto reported that whales have sold more than 30 million POL to cash in on a 20% midweek price increase. Polygon co-founder Sandeep Nailwal announced on X that the burning contract is live on testnet, pending final approval from the Security Council before deployment on mainnet. After mainnet launch, community members will be able to execute burns, with additional quarterly burns possible. AMBCrypto also noted Polygon's projected 2026 cumulative revenue of $24.5 million (approximately 34 billion won) and that network fees have accumulated 121 million POL.