Another Polygon co-founder exits the network

Mihailo Bjelic, one of the key architects behind Polygon, an Ethereum layer-2 scaling solution provider, has decided to call it quits. Bjelic stated in a detailed post on X, “As projects evolve and mature, it is natural for visions to evolve, and sometimes diverge.” He also went on to tell his followers about his journey in the crypto landscape and how he continues to remain ‘passionate about the promise of crypto’

Calling Bjelic his ‘brother from another mother,’ fellow Polygon co-founder Sandeep Nailwal said that he has been “a force behind so much of what makes Polygon what it is today.”

Bjelic’s resignation is the latest in a series of high-profile departures from the Polygon core team. In the past two years, co-founders Jaynti Kanani and Anurag Arjun also left the organization. Polygon’s leadership reshuffle also comes amid a pivotal year for the network. Earlier this year, the network announced a collaboration with DigiShares for tokenized real estate trading via RealEstate.Exchange (REX). There is also a deal with Mukesh Ambani’s Jio Platform to integrate Web3 features into consumer telecom services.

Polygon has contributed heavily to blockchain R&D, including making advancements in the zero-knowledge and proof-of-stake fields. The exit of multiple foundational team members has raised questions about the network’s long-term vision.

Market capitalization of Polygon (MATIC) stands at $357,819,012 and is ranked #216 on CoinGecko.The token is up 2.2% in the last 24 hours, trading at $0.2359 at the time of reporting. As for Bjelic, he has left the crypto community guessing on what his next move will be, but he has left followers to believe that they are ‘likely to see him around’.