Ethereum EIP-1559 upgrade launches on Polygon to burn MATIC

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Ethereum EIP-1559 upgrade launches on Polygon to burn MATIC
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A deflationary supply of MATIC tokens and lower network spam could be the result of EIP-1559 being deployed on Polygon.

The EIP-1559 upgrade introduces the same fee-burning mechanism to Polygon resulting in the destruction of MATIC tokens. It also removes the first-price auction method for calculating network fees which leads to better cost estimations but goes not reduce gas prices.

The team stated that, just like Ethereum, the supply of MATIC is likely to become deflationary with 0.27% of the total supply being burnt every year according to estimations. There is a fixed supply of 10 billion MATIC tokens with 6.8 billion currently in circulation.

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