Sandeep Nailwal, co-founder of Polygon (POL), announced via his X that "Polygon is ready to permanently burn 100 million POL (approximately $10.77 million)." He explained, "The relevant POL burning contract is currently running on the testnet, and once the final security committee signature is completed, the contract will be deployed on the mainnet. After that, any community member can execute the burn, and 100 million POL will be immediately and permanently burned." He added, "After the burn, any community member will be able to burn additional POL every quarter. Polygon achieved cumulative revenue of $24.5 million in 2026, and the POL accumulated from network fees currently amounts to 121 million POL. Furthermore, since January of this year, POL has transitioned to a deflationary (supply reduction) state, and transaction processing speed has expanded to 5,000 transactions per second."
