Less is more. The POL token.
The POL token has become easy to understand - easy as 1-2-3. A clear thesis, a simple mechanism, and a clear value proposition.
POL represents a share in blockchain rails - the Polygon Chain and the AggLayer - and captures all fees generated by these rails, net of validator costs. Part of this value is paid out via staking rewards, part is returned through token burns. In January 2026 alone, these rails are expected to generate around $3–4 million in fees.
That’s basically it. This is what the token looks like today. From here on, all you need to understand is how much fee can realistically land on these rails.
POL is not used for DeFi rewards - this is handled by Katana or partner projects on Polygon. It is not used for complex research or bootstrapping new ecosystems - Miden, ZisK, and Billions operate independently and run their own businesses.
Polygon Labs, meanwhile, is transforming into a profitable Web3 / payments business built on top of these rails - just like the broader Open Money Stack itself - and is approaching a point where it may no longer require external funding at all. That alone could mean savings of $100–200 million per year.
Everything else is just a debate about adoption, distribution, and fee scale - and about whether Polygon @0xPolygon can secure a meaningful position in payments and stablecoins.
The POL token has become easy to understand - easy as 1-2-3. A clear thesis, a simple mechanism, and a clear value proposition.
POL represents a share in blockchain rails - the Polygon Chain and the AggLayer - and captures all fees generated by these rails, net of validator costs. Part of this value is paid out via staking rewards, part is returned through token burns. In January 2026 alone, these rails are expected to generate around $3–4 million in fees.
That’s basically it. This is what the token looks like today. From here on, all you need to understand is how much fee can realistically land on these rails.
POL is not used for DeFi rewards - this is handled by Katana or partner projects on Polygon. It is not used for complex research or bootstrapping new ecosystems - Miden, ZisK, and Billions operate independently and run their own businesses.
Polygon Labs, meanwhile, is transforming into a profitable Web3 / payments business built on top of these rails - just like the broader Open Money Stack itself - and is approaching a point where it may no longer require external funding at all. That alone could mean savings of $100–200 million per year.
Everything else is just a debate about adoption, distribution, and fee scale - and about whether Polygon @0xPolygon can secure a meaningful position in payments and stablecoins.
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