The Founder of This Altcoin Suddenly Left the Project: Explained the Reason

Polygon (POL) co-founder Mihailo Bjelic has announced that he is stepping down from active management roles on the project and is stepping down from the boards of Polygon Labs and the Polygon Foundation.

The decision was given as “diverging visions.” In the last two years, other co-founders Jaynti Kanani and Anurag Arjun had also left the project.

In his announcement on X (formerly Twitter), Bjelic said, “As projects develop and mature, visions can change and even diverge. As a result, I no longer feel I can contribute to Polygon in the best way possible.” However, Bjelic maintained his confidence in the project, saying, “I believe Polygon leadership is committed to making the project a success. I will always support from the sidelines.”

Bjelic is leaving his roles at Polygon Labs, Polygon’s main development studio, and the Polygon Foundation. He co-led the project, which was founded in 2017 as an Ethereum-based Layer-2 solution called Matic Network, with Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.

Polygon has made significant R&D contributions to date in areas such as zero-knowledge proof and proof-of-stake. In late 2024, a token migration was launched as part of the Polygon 2.0 roadmap, where MATIC tokens were swapped 1:1 for POL tokens. This migration aimed to expand the use of the network’s native token in areas such as gas fees, staking, and infrastructure systems (e.g. AggLayer).

*This is not investment advice.

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