- Security Considerations
- Backward Compatibility
In response to community feedback, this PIP proposes that the
burn() function be called on the migrator contract, introduced in PIP-17, in order to burn an amount of POL equivalent to MATIC in the addresses currently used to permanently remove MATIC tokens from supply (ex: 0x000…dEaD) as well as other permanently inaccessible tokens, thus bringing the POL circulating supply inline with the MATIC supply.
PIP-17, which initiates the POL upgrade, proposes the minting of 10B POL to the migrator contract which corresponds to the entire original supply of MATIC. In order to accurately reflect the amount of previously burned MATIC in the POL supply, the authors propose the burning of corresponding POL.
burn() on the migrator contract with an amount reflective of the MATIC balances of the following addresses:
- 0x000000000000000000000000000000000000dEaD [MATIC burn address] - ~16M MATIC
- 0x7D1AfA7B718fb893dB30A3aBc0Cfc608AaCfeBB0 [MATIC token address] - ~500k MATIC
Exact values to be updated upon EIP-1559 recipient change, should PIP-24 be adopted
This change causes no identifiable backward incompatibilities.
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