Polygon Launches Mobile Burning Capabilities for MATIC Tokens

Polygon enables MATIC burning on its mobile apps PolygonMatic cryptocurrencies

previously covered Polygon teasing its community on two massive products set to be released shortly. It also hints at its multichain ecosystem, leaving the community to guess what it could be about.

Polygon, the Layer 2 scaling network, rolled out a major upgrade in January, incorporating Ethereum's London hard fork. With EIP 1599 now on its mainnet, the Polygon upgrade will limit the supply of MATIC and make its tokens potentially more valuable. According to the Polygon Burn tracker, a total of 607,121.47 MATIC have been burned since this mechanism was initiated.In the past week, digital asset manager Grayscale Investments unveiled a new cryptocurrency fund dedicated to smart contract platforms, excluding Ethereum, underscoring growing investor appetite for alternative blockchain networks.

The Grayscale Smart Contract Platform Ex-Ethereum Fund, also known by the ticker symbol GSCPxE, is the company's 18th investment product. The fund will provide exposure to seven smart contract platforms, including Polygon MATIC, with a 9.65% weighting., the gaming arm of the Polygon blockchain, Italian luxury brand Bulgari, has launched its NFT collection on the blockchain.

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