Thomas Daniels
In a decisive move signaling a new era for the blockchain platform, Polygon Foundation has appointed its co-founder Sandeep Nailwal as its first-ever Chief Executive Officer. This leadership transition marks a significant departure from the decentralized governance model that has characterized the organization’s operational framework since inception.
The foundation, which serves as the supervisory body for Polygon Labs and the broader Polygon ecosystem, will now consolidate its strategic direction under Nailwal’s executive leadership. The decision arrives at a critical juncture as Polygon navigates intensifying competition in the highly contested layer-2 blockchain space, the organization announced in a statement shared with Cointelegraph.
“At our beginnings, Polygon was all about bold execution and big goals,” Nailwal remarked. “During 2021–23, we made a concerted effort to institutionalize the project by onboarding exceptional talent, establishing a formal board, and conducting deep technological research and exploration. Now, it is time to move fast again, aggressively and with full conviction and focus.”
Pivot Toward AggLayer and Payments Innovation
Among Nailwal’s immediate priorities is a recalibration of the foundation’s focus towards AggLayer, an interoperability protocol designed to seamlessly unify previously fragmented blockchain networks. The upcoming AggLayer v0.3 release, slated for year-end, will be more prominently integrated under the Polygon brand, underscoring its centrality to the platform’s future.
Concurrently, the foundation plans to phase out its zkEVM chain by 2026, citing persistent performance and scalability challenges that have hindered developer adoption and ecosystem growth.
Further technological evolution is underway with the transformation of the Polygon proof-of-stake (PoS) chain into a high-throughput “GigaGAS” chain. The upgrade aims to achieve transaction speeds exceeding 100,000 transactions per second, enabling the processing of everyday payments and securing potentially trillions of tokenized assets—a pivotal step towards mainstream blockchain adoption.
Polygon is also preparing for its Bhilai upgrade scheduled for July, which promises faster transaction finality, significantly reduced gas fees, and deeper integration with AggLayer. Strategic partnerships with major financial entities such as JPMorgan and Stripe remain central to Polygon’s ambition to fortify its presence in global payments infrastructure.
Leadership Changes Amidst Ecosystem Transition
Nailwal’s elevation to CEO comes amid an ongoing reshuffling of Polygon’s founding team. On May 24, co-founder Mihailo Bjelic publicly announced his resignation from the board and his daily responsibilities with Polygon Labs, 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.”
Bjelic’s departure follows earlier exits by co-founders Jaynti Kanani and Anurag Arjun over the past two years, marking a broader generational shift in Polygon’s leadership as the platform enters its next phase of development.
Meanwhile, Polygon’s native token, POL, continues to face market headwinds, trading over 80% below its historical peak, according to data from CoinMarketCap.
As the Polygon Foundation consolidates its leadership under Nailwal, the strategic recalibration underscores both the challenges and opportunities inherent in navigating the increasingly competitive blockchain landscape.
