Polygon co-founder Sandeep said in a post on X that the POL community has cumulatively and permanently burned 100 million POL from on-chain revenue, equal to about 1% of the token’s total supply. He added that roughly 25 million more POL will be burned later. In the same post, Sandeep described POL, formerly MATIC, as "the most undervalued and overlooked project." He also outlined several developments tied to the Polygon ecosystem. According to his statement, Polymarket has launched perpetual contracts on Polygon. He said Polygon PoS is moving toward a more advanced blockchain following recent upgrades and may eventually reach 1 millisecond confirmation times through block streaming. He also said OMS is close to adding around 1 million transactions of daily processing capacity to Polygon. The remarks were cited by ChainCatcher.
Polygon co-founder Sandeep said in a post on X that the POL community has cumulatively and permanently burned 100 million POL through on-chain revenue, accounting for about 1% of the token’s total supply. He added that around 25 million more POL will be burned later.
Token burn details
According to Sandeep, the 100 million POL burn was carried out through accumulated on-chain revenue. He said the community plans an additional burn of about 25 million POL.
Comments on POL and Polygon upgrades
Sandeep also said POL, formerly MATIC, remains "the most undervalued and overlooked project." He added that Polymarket has launched perpetual contracts on Polygon. In the same update, he said Polygon PoS is steadily moving toward a more advanced blockchain after recent upgrades and could eventually achieve 1 millisecond confirmation times through block streaming. He also said OMS is set to add roughly 1 million transactions in daily processing capacity for Polygon.
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