Crypto
Polygon Burns 100M POL Tokens as Part of Base-Fee System
Polygon Foundation CEO Sandeep Nailwal confirmed on September 23 that 100 million POL was permanently burned.
The burn equals about 1% of POL's original 10 billion supply, and it follows the Polygon burn plan announced on September 18.
The value of the transferred tokens is listed at $10,223,500 by PolygonScan, implying a price near $0.102 for POL at that moment.
The burn was done through the base-fee system, where each transaction pays a fee in POL that collects in a fee contract.