Polygon Prepares for Next Bull Cycle with Aggressive $POL Burn Plan

Polygon is preparing for the next cryptocurrency market bull cycle by implementing an aggressive deflationary plan to burn $POL tokens. According to Polygon Foundation CEO Sandeep Nailwal, the project will permanently destroy 100 million $POL tokens, citing impressive protocol revenue of $24.5 million year-to-date.

Nailwal noted that the proposal is awaiting final Security Council approval before implementation. Once approved, there will be manual quarterly burns of the collected fees, which currently add $POL to a collector wallet holding over 121 million tokens worth around $1.2 million.

If the burn plan goes ahead as proposed, it would remove approximately 1% of the circulating supply from the market.