Polygon’s Leadership Shakeup: Co-Founder Mihailo Bjelic Steps Down Amid Layer-2 Mania

Another crypto founder cashes out—just as the scaling wars heat up. Polygon’s architect Mihailo Bjelic exits stage left, leaving the Ethereum sidechain at a critical inflection point.

Who’s steering the ship now? The remaining team faces pressure to deliver on zkEVM adoption while rivals like Arbitrum and Optimism eat their lunch. Meanwhile, VCs quietly check their vesting schedules.

Pro tip for the new leadership: maybe try shipping something that doesn’t require a 27-step bridge tutorial for normies. Just a thought.

Recent Developments Among Founders

The Polygon network initially emerged under the name Matic, brought to life by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun. Over the years, changes within the team have occurred, culminating in Bjelic’s decision to leave the project, marking a significant phase in its evolution.

Following Bjelic’s exit, Sandeep Nailwal stands as the sole remaining original founder. Acknowledging Bjelic’s contributions to the project, Nailwal wished him success in his future endeavors.

Sandeep Nailwal: “Mihailo’s contributions were invaluable to Polygon. I wish him success in his future journey.”

Bjelic’s departure is being closely monitored within the cryptocurrency sector and especially among Polygon users. Industry professionals are deliberating the potential impacts of this change on the network.

Market and Network Performance

With Bjelic’s exit, the value of Polygon’s native token, POL, has been affected. There was a 5% decrease in the value within 24 hours, with the token currently trading above 23 cents. This market fluctuation is attributed to the impact of the separation news on investors and users.

Polygon is recognized as a leading project in blockchain technology, focusing on layer-two solutions to enhance transaction speeds and reduce costs. The network remains dedicated to its technological advancements.

There is no official statement indicating any changes to Polygon’s main objectives or whether there will be further exits within the team. Users and experts continue to watch the project’s future developments closely.

Despite the significant leadership change following Bjelic’s departure, the Polygon network continues to advance technologically. As this process unfolds, investors and users are keenly monitoring the project’s leadership structure and management changes.

Currently, it’s difficult to definitively assess whether internal team changes will critically influence the network’s overall success or technological developments. However, users and industry media emphasize the importance of transparent communication and sustainable leadership in these shifts. Particularly in cryptocurrency and blockchain projects, earning public trust during managerial transitions is seen as vital for the project’s long-term success. Keeping an eye on current announcements and evaluating future developments can be beneficial for followers.