Polygon co-founder quits, leaving the crypto giant at a crossroads
Mihailo Bjelic, a Polygon co-founder, has resigned from the blockchain project he helped build. He is stepping down from the Polygon Foundation board and ending his role at the main development studio, Polygon Labs.
Bjelic shared an X post stating, “After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation and wind down my day-to-day involvement with Polygon Labs.”
This makes him the third founder to leave the team. He joins co-founders Jaynti Kanani and Anurag Arjun, who had also stepped away from their active roles in the blockchain project. Kanani left the company in October 2023, while Arjun stepped down in March 2023 to concentrate on his modular blockchain project, Avail.
Bjelic claims he can no longer give his best to Polygon
Bjelic has played a pivotal role in taking Polygon to greater heights. In 2017, he co-founded the well-known Ethereum Layer 2, originally named Matic Network, along with Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.
Ethereum’s Layer 2 scaling solutions provide many advantages for the Ethereum network. These benefits include faster transaction times, lower fees, and better scalability. As a Layer 2 solution, Polygon uses these features to boost its own performance and improve the experience for its users.
In support of this, it is evident that the firm has made significant contributions to blockchain research and development, particularly in zero-knowledge and proof-of-stake technologies.
Polygon introduced MATIC for POL-on a one-to-one basis in late 2024 and initiated a token migration as a part of its 2.0 plan. This change was to drive more usage of the network’s main token for gas fees, staking, and infrastructure such as AggLayer.
Following Polygon’s success, Bjelic’s 10+ years of experience as an IT engineer building technology products and platforms were greatly honored.
However, on Friday, May 23, Bjelic shared an X post stating that he could no longer give his best to Polygon. Based on his explanation, as projects developed and evolved, it was natural for ideas to shift and sometimes become divided up. Afterward, Bjelic mentioned that Polygon leaders seemed sincerely dedicated to seeing the project prosper. He then offered support to them from the sideline and for whatever he could do to assist.
Following his resignation, Nailwal praised Bjelic in an X post, stating he was not only a co-founder but also a brother to him. He added, “From the earliest days — whiteboards full of ideas, endless whitepapers, governance frameworks, strategy calls deep into the night — you have been a force behind so much of what makes Polygon.”
Bjelic reveals himself as a strong crypto believer
Bjelic revealed that he first learned about cryptocurrency in 2013. By 2017, he was really diving into it, excited by the idea of creating a worldwide, inclusive economy. Since then, he has dedicated himself to making that amazing vision a reality.
This is evident since Polygon’s launch in 2019, as Bjelic and his colleagues have made great progress. According to reliable sources, they have achieved important advancements in zero-knowledge technology and brought on some of the biggest brands in the world, moving closer to that big dream.
By undertaking this great journey, Bjelic initially highlighted taking pride in this and felt lucky to collaborate with many skilled individuals.
Concerning his resignation, he mentioned that he still felt just as enthusiastic about the potential of cryptocurrency to change systems, empower people, and build a fairer world. Therefore, he added that this belief continues to motivate him, and as a result, he will probably be seen around.
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Original reporting: cryptopolitan.com
