Layer 2 Sees Exit of Polygon Co-Founder Mihailo Bjelic

Polygon, initially known as Matic and co-founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun, is experiencing a major leadership change.

Mihailo Bjelic, one of the project’s original founders, announced via X that he will be stepping down from the Polygon Foundation board and ending his daily involvement with Polygon Labs. “After much thought and reflection, I have decided to move on from my roles within the Polygon ecosystem,” Bjelic said.

With Bjelic’s exit, Sandeep Nailwal now stands as the sole original founder actively steering the project forward.

Nailwal paid tribute to Bjelic’s vital role in building the network and wished him the best for his next chapter.

Since its rebranding from Matic, Polygon has continued to develop as a leading Layer 2 network, though its native token POL has fallen 5% in the past 24 hours, currently trading above $0.23.