Deflation is coming! Polygon (MATIC) announces Hard Fork London reception on EIP-1559

After the implementation of the network test, Ethereum's second solution, Polygon, announced that 1/18 would make it more difficult to integrate London into the core network and introduce the EIP-1559 modification.

Hard Junction of the London Polygon

After community discussions and agreements, the Polygon team decided to introduce EIP-1559 according to the Ethereum specification and submit it to the Mumbai testnet on 12/14 last year.

Unlike Ethereum, which does not have a full cap, the total value of MATIC tokens is 10 billion, and the damage value of EIP-1559 puts MATIC directly into the process of deflation.

EIP-1559 is expected to destroy 0.27% of all MATIC equipment each year, which equates to approximately 27 million MATICs (approximately $63 million).

Polygon quickly overhauled the mainnet in early December last year. We acted quickly because of the risks that our work could not cope with.

Although the event ended without a significant drop and Matic's price did not drop ($2,923 as of December 27), the team reported that the way forward was still problematic.

Matic is currently ranked 14th by market cap, up 6% once on the London Hard Fork news, then has fallen to pre-release levels.