Polygon permanently burned 100 million POL, removing roughly 1% of the token's total supply through a transaction funded by base fees collected from network users. Sandeep Nailwal, Executive Director of the Polygon Foundation, confirmed the September 23, 2026 execution on X. The tokens were sent from an address marked with the 0xDEAD suffix to the core POL token contract, making them unrecoverable and unavailable for secondary-market circulation. The burn did not use Polygon Foundation operating funds or treasury reserves. Polygon's EIP-1559-style fee model, in place since January 2022, directs base fees to a collector smart contract while priority fees go to validators. The collector held about 121 million POL before the transaction, so the operation consumed most of its accumulated balance. Community members can trigger future burns once approved contract thresholds are met, with timing dependent on base-fee generation and described as roughly quarterly. POL traded at $0.1014 at 7:34 a.m. UTC on September 23, down 6.46% over 24 hours but up 10% over the preceding week, CoinMarketCap data showed. Market capitalization was $1.07 billion and 24-hour volume rose 77% to $228.83 million. The source's September 23 confirmation differs from an earlier topic reference to a September 24 statement.