Polygon Foundation CEO Unveils Plan to Burn 100M POL Tokens Amid Revenue Claim

Polygon Foundation CEO Sandeep Nailwal has announced plans to burn 100 million POL tokens, which would be approximately 1% of the network's initial supply of 10 billion tokens. The proposed burn mechanism would draw from a base-fee collector contract holding around 121 million POL tokens, with each network base fee adding more tokens to the collector.

The Polygon Foundation CEO claimed that Polygon has generated $24.5 million in revenue for 2026, citing this figure as part of his argument for the burn mechanism. However, he acknowledged that the contracts remain on testnet and require final council signatures before mainnet deployment.

Nailwal also compared Polygon's revenue to that of rival networks Arbitrum and NEAR Protocol, stating that Polygon generated roughly three times as much as Arbitrum ($8.41 million) and more than four times as much as NEAR ($5.6 million). However, he attributed these figures to an 'analyst at ChatGPT', noting that they lack independent verification.

The announcement was met with a 6.5% increase in POL price on CoinMarketCap News shortly after the release of both the burn mechanism details and Nailwal's revenue figures.