Polygon to permanently burn 100 million POL tokens

Polygon Foundation CEO Sandeep Nailwal announced that the network is deploying a contract to allow community members to trigger the permanent burn of 100 million POL tokens. The contract is currently on the testnet and will launch on the mainnet following final signatures from the security council, with subsequent quarterly burns planned. Additionally, Polygon reported 24.5 million USD in YTD revenue for 2026, significantly outpacing Arbitrum and NEAR. The network has been deflationary since January 2026, with 121 million POL collected in base fees, while network TPS has scaled to 5,000.