Over 100 Million MATIC Incinerated In POLS Mint, But The Gold Rush Is Far From Over

The POLS mint was arguably the most anticipated event on the Polygon (MATIC) blockchain this year and the stats have corroborated this.

On Thursday, the Bitcoin BRC-20-inspired mint took place and the burn figures have been nothing short of impressive.

Over 100 million MATIC tokens were incinerated as a result of this event.

But data suggests that this rush is far from over.

POLS Mint Triggers Massive MATIC Burns The POLS token mint saw a massive turnout from the Polygon community as thousands of investors clamored to mint their tokens.

As a result, the fees on the network skyrocketed and the ensuing token burn crossed 100 million MATIC.

Related Reading: Dogecoin Is Literally Going To The Moon: 100% DOGE Price Blast Expected According to reports, the fees on the Polygon network skyrocketed by over 13,000% sending fees as high as 4,005 gwei at the peak.

Polygon founder Sandeep Nailwal acknowledged this increase in network activity, posting a chart that showed that the network had processed over 6 million transactions in a 24-hour period, amounting to a 170 transactions per second (TPS) rate.

What is going on on @0xPolygon POS chain? 6m transactions in last 24 hrs.

170 TPS on average.

1mn+ MATIC burnt by the protocol.

The chain worked smoothly, gas fees went crazy though but no reorgs or 0 blocks etc.

I hear there is some game Baby Shark Launching, could that be the…

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