Thread by @stader_polygon

$MATIC is Burning 🔥 🔥

In the last 3+ months, the network has burnt over 750,000+ tokens.

If you want to know what this means for the future of your MATIC bags, read on:

With the launch of the much-awaited EIP-1559 in Jan 2022, the Polygon network is expected to burn around 0.27% of MATIC’s supply every year

If you don't know

EIP-1559 is a novel mechanism first introduced on Ethereum that facilitates the burning of transaction fees

Currently

At the circulation supply of 7.8 billion MATIC …

Almost 1 in every 3000 tokens are getting burnt.

Prior to this feature…

MATIC already has a hard cap of 10 billion tokens on its supply.

And now it’s become deflationary as well.

What does this imply?

This implies that the value of MATIC will inevitably increase over time as the supply decreases…

Given the demand remains the same!

Not only that…

It will also benefit the validator nodes participating in creating blocks & the delegators staking their coins as the remunerations are paid in MATIC.

You can witness the burn live here: burn.polygon.technology

Also...

We at Stader are doing our bit to enrich the #PolygonDeFi ecosystem

Our liquid staking solution, MaticX is beneficial for the decentralization of the network & also increases the trading volume on the #PolygonDeFi ecosystem

Start liquid staking here polygon.staderlabs.com