Mihailo Bjelic, one of the original minds behind Polygon, has officially stepped down from both the Polygon Labs development team and the Polygon Foundation board. His resignation marks the third co-founder departure from the Ethereum Layer 2 scaling protocol in just over a year—raising questions about the project’s evolving leadership structure.
In a public announcement on X, Bjelic cited diverging long-term visions as the key reason behind his departure. While acknowledging the natural evolution of ideas within growing ecosystems, he noted that his ability to contribute meaningfully had reached a limit.
“As projects evolve and mature, it is natural for visions to evolve—and sometimes diverge,” he wrote.
“With this in mind, I can no longer contribute to Polygon to the best of my abilities.”
Despite stepping down from his active role, Bjelic reaffirmed his belief in the project’s future, expressing trust in the team’s leadership and strategy.
“I remain confident that Polygon leadership is committed to the success of the project. I’ll always be cheering from the sidelines, and supporting however and whenever I can.”
Bjelic co-founded the project in 2017 when it was still known as Matic Network, alongside Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Over the years, Polygon grew to become one of the most influential Ethereum Layer 2 ecosystems, advancing enterprise partnerships, developer adoption, and cutting-edge work in zero-knowledge rollups.
Bjelic’s Exit Follows Protocol Milestones and Strategic Rebranding
The timing of Bjelic’s departure is notable, coming amid a broader transformation at Polygon. The protocol recently launched an extensive 2.0 roadmap and completed a major token upgrade—migrating from its legacy MATIC token to a new POL token in a 1:1 swap. The upgrade aims to expand the token’s functionality across future infrastructure components like the AggLayer and enhanced staking mechanisms.
Polygon has also doubled down on zero-knowledge cryptography and interoperability as key focus areas for its next evolution. Yet with the departure of three of its four original co-founders in less than two years—Jaynti Kanani exited in October 2023 and Anurag Arjun stepped down in March 2023—the spotlight is now on the last remaining co-founder, Sandeep Nailwal.
Nailwal responded emotionally to Bjelic’s announcement on X, reflecting on their shared journey from startup chaos to global protocol leadership. “More than a co-founder, you’re a brother,” he wrote.
“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.”
The news of Bjelic’s resignation coincided with a modest price dip in the POL token, which fell 3.7% and is currently trading at around $0.24, according to data from The Block.
As Polygon shifts into a new phase of decentralized development and protocol innovation, Bjelic’s departure signals a generational handover—reflecting broader changes across the Ethereum scaling landscape where early builders are beginning to pass the torch.
Quick Facts
- Mihailo Bjelic has stepped down from both Polygon Labs and the Polygon Foundation board.
- His exit marks the third co-founder departure since March 2023.
- Polygon recently completed a major token migration from MATIC to POL.
- Remaining co-founder Sandeep Nailwal continues to lead the project’s next phase.
- POL token dropped 3.7% following Bjelic’s announcement, currently trading at $0.24.
