Polygon's Contract to Burn 100 Million POL Tokens is Ready
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The CEO of the Polygon Foundation, Sandeep Nailwal, stated that the contract to burn 100 million POL tokens (approximately 1% of the total supply) is ready and can be executed by any member of the community. In the future, the community can conduct a burn every quarter. Nailwal also mentioned that POL has been in a deflationary state since the beginning of this year. The burn contract for 100 million POL has been deployed on the testnet and will go live on the mainnet after final approval from the security committee.
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