Polygon Foundation introduces PIP 92 staking yield boost and burns 100M POL
CIE News ·
Polygon Foundation announced a two-month staking reward increase to 7.7% APY funded by priority fees under PIP 92, alongside the completed burn of 100 million POL tokens.
Polygon Foundation announced a temporary staking yield boost raising Polygon (POL) rewards to approximately 7.7% annually starting October 1 under Polygon Improvement Proposal PIP 92, CoinMarketCap reported. The two-month incentive is financed by 27.3 million POL drawn from accumulated network priority fees, according to the report. CoinMarketCap also stated that Polygon completed a 100 million POL burn, with plans to destroy an additional 25 million POL as more network fees accrue.