Polygon and Pi Network announce key protocol and supply updates

Polygon’s POL token has increased in value by nearly 12% following a permanent burn of 100 million tokens on September 23. Polygon Foundation CEO Sandeep Nailwal confirmed the removal of approximately 1% of the total POL supply, which was sourced from accumulated network fees. This mechanism is designed to increase token scarcity as demand remains steady or grows.

Separately, Pi Network has entered the Testnet phase for its Protocol 28 upgrade. The upgrade aims to improve network performance, scalability, and smart-contract capabilities. Node operators are scheduled to upgrade by October 13, with a target Mainnet activation on October 16. Additionally, Pi Network reported that recent verification changes have unblocked over 417,000 users previously affected by duplicate-account flags during the KYC process.