Base-fee burns of about 107.7 million POL exceeded roughly 105.2 million newly minted tokens as Polygon posted a record 743 million Q2 transactions, led by stablecoin payments.
Polygon’s POL token became net deflationary in 2026 after about 107.7 million POL were burned through the network’s base-fee mechanism, more than roughly 105.2 million newly minted tokens. Polygon founder Sandeep said the supply decline was driven largely by the chain’s role in payments, while newer network data showed record usage: 743 million transactions in Q2 2026, up 160% year over year, including 198 million stablecoin transactions and $79.25 billion in stablecoin transfer volume in May. Polygon ranked first among blockchains by stablecoin transaction count in that month, but POL was still trading near $0.073 despite the surge in on-chain activity.