Thomas Daniels
Mihailo Bjelic, co-founder of the Ethereum Layer-2 scaling solution Polygon, has formally stepped down from the board of the Polygon Foundation, signaling a continued leadership transition within one of the blockchain industry’s most influential projects.
The announcement was made via Bjelic’s post on the social platform X on May 23, 2025. In addition to leaving the board, he noted that he will also wind down his day-to-day responsibilities with Polygon Labs.
“Polygon was born in 2019, and we’ve come a long way since then,” Bjelic wrote. “From significant breakthroughs in zero-knowledge tech to onboarding some of the world’s biggest brands, we’ve made meaningful strides toward that grand vision. I’m proud of this, and grateful for the privilege to work with so many talented people.”
Having first entered the cryptocurrency space in 2013 and becoming deeply immersed by 2017, Bjelic co-founded Polygon—formerly known as Matic Network—alongside Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The project has since become one of the most searched proof-of-stake blockchain platforms in the U.S., gaining recognition for its technical innovations and brand partnerships.
Bjelic emphasized that his decision stems from the natural evolution of projects, where visions may diverge over time. “As projects evolve and mature, it is natural for visions to evolve, and sometimes diverge. With this in mind, I can no longer contribute to Polygon to the best of my abilities.”
Though stepping away from operational involvement, Bjelic reaffirmed his support for Polygon, expressing confidence in its future trajectory and stating that he will remain a supporter from the sidelines.
His departure follows the exits of fellow co-founders Jaynti Kanani and Anurag Arjun. Kanani resigned in October 2023 to pursue new ventures, while Arjun left in March 2023 to focus on his modular blockchain initiative, Avail.
Sandeep Nailwal, the remaining active co-founder, responded on X with a heartfelt message: “More than a co-founder, you’re a brother. 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 what it is today.”
Polygon continues to maintain a leading position in the Ethereum ecosystem. Its native token, POL (formerly MATIC), reflects the ongoing evolution of the platform as it navigates the next phase of its development.
