Polygon Foundation Announces Plan to Burn 100M POL Tokens

Polygon Foundation CEO Sandeep Nailwal has announced that 100 million POL tokens are set to be permanently burned following the clearance of a permissionless contract on the mainnet.

The burn is tied to a permissionless contract that must first clear the mainnet process and receive Security Council sign-off, according to CoinMarketCap's report of Nailwal's statement on X.

Nailwal did not provide a specific date for the contract's deployment or the execution of the burn in the statement shared by CoinMarketCap.