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Polygon PoS Hits Record Demand, Burns 3 Million POL in One Day

Polygon’s proof-of-stake network experiences peak activity, generating record fees and burning 0.03% of POL supply amid increased gas costs.

POL

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Terms & Concepts
  • Polygon PoS: A proof-of-stake (PoS) blockchain network by Polygon that processes transactions using validators who stake tokens.
  • POL: Polygon’s native cryptocurrency used for transaction fees, staking, and governance on its network.
  • Gas Costs: Transaction fees paid by users to compensate validators for processing and securing blockchain operations.