Three weeks after a Polygon Improvement Proposal (PIP) detailed the specifications for POL, the contracts have been deployed on the Goerli testnet. This is a significant milestone towards the full implementation of Polygon 2.0. The deployment is the culmination of extensive community consultations and signifies the network’s readiness for the next phase of its development.
Two new PIPs, PIP-24 and PIP-25, have been introduced based on community feedback. PIP-24 proposes changes to the EIP-1559 burn system, which has removed over 20 million MATIC tokens from circulation since its implementation in January 2022. The proposal aims to modify the recipient address of the burn on the Polygon PoS network, making it a prerequisite for the implementation of Phase 0 of Polygon 2.0.
PIP-25, on the other hand, aims to adjust the total supply of POL tokens to ensure a 1:1 ratio with previously burnt MATIC tokens. This proposal is crucial for…
