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first_img Polygon plans to deploy a permissionless burn contract, with the first round burning 100 million POL

Sandeep Nailwal, CEO of the Polygon Foundation, stated that Polygon is preparing to deploy a permissionless burn contract that allows anyone to permanently burn 100 million POL, which accounts for approximately 83% of the 121 million tokens held by the Polygon base fee collector. The contract is currently live on the testnet and will be deployed to the mainnet after the security committee completes the final signature.The first round of burns will permanently destroy 100 million POL, after which community members can trigger burns every quarter. Polygon's documentation indicates that the base fee is determined by the network and will be burned, with Nailwal stating that each base fee will inject POL into the collector. Based on the above data, approximately 21 million POL will remain in the collector after the initial burn.This burn represents about 1% of the initial supply of 10 billion POL, and based on a total supply of approximately 10.716 billion as shown by Blockscout, it accounts for about 0.93%. The burn will not set a hard cap on POL, which will continue to be issued, with an annual issuance rate of about 2% after June 2025. Nailwal also mentioned that POL has entered deflation starting January 2026, citing data from his "ChatGPT Analyst" that Polygon's revenue in 2026 will be $24.5 million, higher than Arbitrum's $8.41 million and Near's $5.6 million.

CoinGecko: Gate's spot TOP30 trading pairs lead in L1 depth share, with multiple indicators such as BTC, ETH, SOL, and DOGE performing outstandingly

According to the latest market analysis released by CoinGecko, based on order book data from August 25 to September 7, 2026, Gate ranks among the top platforms in the mainstream spot TOP30 trading pairs Top-of-Book (L1) depth share, and holds the first position in several mainstream assets.Among the 30 trading pairs tracked, Gate maintains a lead in 7, including BTC (27.3%), ETH (37.5%), XRP (39.2%), BNB (40.4%), DOGE (35.6%), NEAR (42.19%), and USD1 (38.07%). Under the 1% depth metric, Gate ranks first in 15 of the 30 trading pairs; in terms of coverage, Gate ranks in the top two for 28 trading pairs, demonstrating the broadest liquidity coverage.From a liquidity metric closer to market prices, Gate also shows strong order acceptance capability. The spot L1 depth for BTC, ETH, XRP, and DOGE remained leading during the observation period; in the contract market, Gate's BTC perpetual and ETH perpetual L1 depth maintained a leading position throughout the observation period, with SOL and DOGE perpetual contracts also ranking high.In terms of tokenized assets, Gate's SKHYNIX perpetual contract L1 depth ranked first throughout the observation period and significantly ahead. CoinGecko points out that compared to trading volume, order book depth better reflects actual trading execution capability and potential slippage. As market participants' attention to trading execution quality continues to rise, Gate continues to strengthen liquidity construction in both the spot and contract markets, maintaining strong market depth in core assets such as BTC, ETH, DOGE, and SOL, providing ample liquidity support for trades of various sizes.

first_img The U.S. House of Representatives' fundraising committee has passed the first federal cryptocurrency tax framework

The House Committee on Ways and Means passed the "Digital Asset Tax Clarification Act" with a vote of 38 in favor and 5 against, establishing the first federal tax framework for digital assets. The bill sets a threshold for taxation, stating that cryptocurrency transactions with network or transaction fees not exceeding $10 are exempt from taxes, but this exemption does not apply to service providers conducting transactions on behalf of others, and the relevant provisions will not take effect until December 2027.The bill also requires the Treasury Department to establish a voluntary disclosure program for digital assets within 12 months of the bill's enactment, allowing eligible taxpayers to amend previous filings and settle owed taxes, interest, and penalties. The bill specifies that income from mining and staking will be taxed as ordinary income, while allowing certain investment trusts to stake without affecting their tax status. The previous version included an option for deferred income recognition, but that provision has been removed, and the issue of income recognition timing remains unresolved.Committee Chairman and Republican Congressman Jason Smith called it a historic moment for the committee. This vote took place the day after the Senate's procedural vote on the "Clarity Act" failed (49 votes to 50), with Democrats opposing the bill mainly due to ethical concerns raised by Trump's cryptocurrency interests. The House will recess until after the November elections, and the bill may advance during the lame-duck session, with public attention shifting to the Senate Finance Committee.
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