Crypto
Polygon Burns 100 Million POL Tokens Amid Ongoing Supply Management
The Polygon Foundation has announced another significant token burn, removing 100 million $POL tokens from circulation. According to CEO Sandeep Nailwal, this represents approximately 1% of the total $POL supply.
The tokens were 'permanently incinerated,' meaning they cannot be reused or reintroduced into the market.
Nailwal's statement did not provide additional details on the reasons for the token burn or its potential impact on Polygon's future token economy.