In a surprising development, Mihailo Bjelic, one of the co-founders of Polygon, has officially stepped down from his operational role. This marks the third exit of a founding member from the team behind one of Ethereum’s most prominent Layer-2 scaling solutions. The announcement came via a post on X (formerly Twitter), where Bjelic confirmed his transition out of daily leadership duties.
“It’s been an incredible journey, and I remain a passionate supporter of Polygon’s mission,” Bjelic wrote.
Background: Polygon’s Rise and Internal Shifts
Founded in 2017 (originally as Matic Network), Polygon has grown into a multibillion-dollar protocol facilitating fast and low-cost Ethereum transactions. It now supports a wide ecosystem of dApps, DeFi protocols, gaming platforms, and NFTs. Over the past two years, however, the company has seen significant internal restructuring.
“Mihailo’s departure follows those of co-founders Jaynti Kanani and Sandeep Nailwal, signaling a shift in the protocol’s leadership landscape,” industry watchers note.
While Nailwal still serves in an executive role, Jaynti Kanani stepped back from Polygon in October 2023. The remaining leadership has reiterated its commitment to long-term growth and innovation despite the turnover.
Polygon 2.0 and The Future Without Bjelic
Bjelic’s resignation comes at a critical juncture: Polygon 2.0, a major upgrade focused on unifying various Polygon chains and implementing a zero-knowledge (ZK) rollup infrastructure, is currently underway. The shift is designed to make the Polygon ecosystem more scalable, secure, and interoperable.
“We are confident in our community and new leadership to continue advancing Polygon 2.0,” said a spokesperson from the Polygon Foundation.
Despite his exit, Bjelic has not fully distanced himself. He remains an advisor and token holder, expressing plans to support the project’s growth in a non-operational capacity.
Community and Market Reaction
The broader crypto community reacted with a mix of surprise and support. Some investors voiced concerns about leadership continuity, while others saw the transition as a natural evolution for a mature protocol.
Polygon’s MATIC token remained relatively stable, dipping just 1.3% on the day of the announcement—suggesting market confidence in the platform’s roadmap.
Conclusion: Evolution or Instability?
Polygon’s strength lies in its tech and community—not just its founders.
Mihailo Bjelic’s exit marks the end of an era, but also opens the door for a new generation of developers and leaders to guide Polygon into its next chapter. With Polygon 2.0 on the horizon and a growing ecosystem, the protocol remains a key player in the Ethereum scaling race.