{"id":24638,"date":"2025-06-11T16:26:04","date_gmt":"2025-06-11T13:26:04","guid":{"rendered":"https:\/\/forklog.com\/en\/polygon-co-founder-takes-sole-leadership-of-the-project\/"},"modified":"2025-06-11T16:26:04","modified_gmt":"2025-06-11T13:26:04","slug":"polygon-co-founder-takes-sole-leadership-of-the-project","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/polygon-co-founder-takes-sole-leadership-of-the-project\/","title":{"rendered":"Polygon Co-Founder Takes Sole Leadership of the Project"},"content":{"rendered":"<p>Polygon co-founder Sandeep Nailwal has assumed full control of the Polygon Foundation (PF) as its first CEO, introducing changes to the project&#8217;s strategic priorities.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">BIG update \u2014 As the largest holder of POL and someone who dedicated his life to development and success of <a href=\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\">@0xPolygon<\/a> from the very beginning, I have decided to take full control of Polygon Foundation and will be its CEO going forward. Polygon Foundation owns and oversees\u2026<\/p>\n<p>\u2014 Sandeep | Polygon (\u203b,\u203b) (@sandeepnailwal) <a href=\"https:\/\/twitter.com\/sandeepnailwal\/status\/1932748558786310228?ref_src=twsrc%5Etfw\">June 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I always refrained from taking the CEO position because I was focused on building PF as an institutionally managed foundation. But now Polygon needs clear direction and purposeful execution, which means stepping up,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>The organization will continue to oversee the project&#8217;s divisions, including Polygon Labs, which will retain their current leadership.<\/p>\n<p>According to the entrepreneur, the L2 platform, with a treasury <a href=\"https:\/\/forklog.com\/en\/news\/polygon-faces-backlash-over-1-3-billion-reserve-investment-proposal\">&#8220;in the hundreds of millions of dollars,&#8221;<\/a> is well-positioned to overcome the crisis affecting the entire Ethereum ecosystem.<\/p>\n<p>He announced a series of measures aimed at supporting the value of the POL token and clarifying development prospects:<\/p>\n<ul class=\"wp-block-list\">\n<li>next year, the project will close the <a href=\"https:\/\/forklog.com\/en\/news\/polygon-zkevm-resumes-operations-after-outage\">Polygon zkEVM<\/a> network and focus on developing Polygon PoS (oriented towards stablecoin payments and the RWA segment) as well as the <a href=\"https:\/\/forklog.com\/en\/news\/polygon-labs-unveils-blockchain-aggregation-layer-agglayer\">AggLayer<\/a> protocol (designed to help create the internet of blockchains);<\/li>\n<li>an iteration of Polygon PoS called Gigagas will be launched on the mainnet, having achieved over 5000 <span data-descr=\"transactions per second\" class=\"old_tooltip\">TPS<\/span> in tests. By September-October, this will place the network among the fastest blockchains, with the potential to scale to 100,000 TPS in the coming years;<\/li>\n<li>AggLayer v0.3 will be released on June 30, with full functionality expected by the end of the third quarter. The protocol is returning to &#8220;mass delivery&#8221; mode;<\/li>\n<li>support for projects under the AggLayer Breakout program will continue, with airdrops for POL stakers;<\/li>\n<li>the circle of market makers for token market creation negotiations will be expanded. This is facilitated by the <a href=\"https:\/\/forklog.com\/en\/news\/sec-to-withdraw-demand-for-solana-and-other-assets-to-be-recognized-as-securities\">closure<\/a> of the investigation by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> regarding the offering of what was then <a href=\"https:\/\/forklog.com\/en\/news\/polygon-initiates-matic-to-pol-conversion\">MATIC<\/a> as securities.<\/li>\n<\/ul>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 17, 2025 | 13:21<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Growthepie&#8217;s Head of Research, Lorenz Lehmann, provided some details regarding the planned closure of the Polygon zkEVM network by the new head of PF. According to him, it operates at a loss of over $1 million annually.<\/p>\n<p>In 2021, the L2 platform acquired the Hermez project for $250 million, rebranding it as Polygon zkEVM. However, blockchain development gradually ceased \u2014 it did not even undergo an upgrade to use BLOB objects. In the Ethereum mainnet, the feature was implemented during the <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-developers-activate-dencun-hard-fork-on-mainnet\">Dencun hard fork<\/a> in March 2024.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Soon Polygon zkEVM will shut down. Quick recap:<\/p>\n<p>>Polygon acquired Hermez for $250M in 2021 <br \/>>Rebranded to Polygon zkEVM <br \/>>Development quietly abandoned <br \/>>Never upgraded to use Blobs, chain runs at 1M$+ loss\/y<br \/>>Announce chain will shut down <a href=\"https:\/\/t.co\/paYx0P06oi\">https:\/\/t.co\/paYx0P06oi<\/a> <a href=\"https:\/\/t.co\/0uJAPSvOFX\">pic.twitter.com\/0uJAPSvOFX<\/a><\/p>\n<p>\u2014 Lorenz Lehmann (@LehmannLorenz) <a href=\"https:\/\/twitter.com\/LehmannLorenz\/status\/1934641304668893301?ref_src=twsrc%5Etfw\">June 16, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>Nailwal believes that Ethereum&#8217;s &#8220;existential crisis&#8221; has set Polygon back to its startup phase.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;What is needed here is speed, the audacity to make bold bets, and the ability to handle failures. Moreover, the crypto industry has shifted from a research orientation to a user focus, and Polygon needs to change accordingly,&#8221; stated the project&#8217;s co-founder.<\/p>\n<\/blockquote>\n<p>He noted that governance structures like boards of directors or committees are suitable for stable times and are generally incapable of aggressive moves to achieve &#8220;exponential results.&#8221;<\/p>\n<p>Back in December 2024, the largest liquid staking protocol, Lido, <a href=\"https:\/\/forklog.com\/en\/news\/lido-to-cease-support-for-polygon\">ceased<\/a> support for Polygon PoS.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon co-founder Sandeep Nailwal has assumed full control of the Polygon Foundation (PF) as its first CEO, introducing changes to the project&#8217;s strategic priorities. BIG update \u2014 As the largest holder of POL and someone who dedicated his life to development and success of @0xPolygon from the very beginning, I have decided to take full [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1179,1264],"class_list":["post-24638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-layer-2-solutions","tag-polygon-matic"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24638"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24637"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}