Why Did Gas Fees Soar on Polygon for POLS Tokens? đ
Gas fees on Polygon surged over 1,000% to $0.10 due to a rush in minting POLS tokens.
Polygon founder Sandeep Nailwal was surprised by the transaction surge, possibly linked to a new #NFT collection.
The spike resulted from high enthusiasm for #POLS minting, burning over 102 million MATIC tokens ($86 million). POLS uses PRC-20, similar to Bitcoin's BRC-20.
Only 8.7% of POLS supply is minted. Despite the surge, gas fees returned to 882 #gwei . This frenzy echoes Bitcoin's activity spike post-Ordinals protocol, drawing criticism from traditional Bitcoiners for its wastefulness.
