Mihailo Bjelic, one of the co-founders of Polygon (POL), has officially announced his resignation from Polygon Labs and the Polygon Foundation board. This marks the third co-founder to step down in recent years, following the departures of Jaynti Kanani and Anurag Arjun, signaling a significant leadership transition for the layer-2 Ethereum scaling solution.
A Departure Rooted in Vision Differences
On May 24, 2025, Bjelic took to X (formerly Twitter) to share the news of his departure. In his post, he cited differences in project vision as the primary reason for stepping down:
Despite leaving his executive role, Bjelic expressed confidence in Polygon’s current leadership team and pledged to continue supporting the project from behind the scenes.
Emotional Tributes from Co-Founder Sandeep Nailwal
Shortly after Bjelic’s announcement, Sandeep Nailwal, the remaining co-founder of Polygon, shared an emotional tribute on X:
Nailwal’s words highlight the deep bond shared by the co-founders during Polygon’s formative years. Bjelic’s contributions have been instrumental in shaping Polygon into one of the leading layer-2 solutions in the Ethereum ecosystem.
The Legacy of Mihailo Bjelic
Bjelic has been a cornerstone of Polygon since its inception as the Matic Network in 2017. Alongside co-founders Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, he played a pivotal role in transforming the project into what is now known as Polygon (POL).
Polygon has achieved numerous milestones under their leadership, including groundbreaking advancements in zero-knowledge proof (ZKP) technology and the adoption of the Proof-of-Stake (PoS) consensus model. The platform has also become a go-to infrastructure provider for major brands such as Adidas, Prada, Starbucks, and Reddit, further cementing its position in the blockchain space.
The transition to Polygon 2.0, announced in April 2024 , marked a new phase in the project’s evolution, with the conversion of MATIC tokens to POL at a 1:1 ratio. Bjelic’s departure comes at a time when Polygon continues to push forward with its ambitious roadmap, despite challenges in the broader cryptocurrency market.
Leadership Transitions and Market Impact
Bjelic’s resignation follows the earlier departures of Jaynti Kanani and Anurag Arjun, who stepped down from their executive roles in 2023 and 2024, respectively. These transitions underscore the evolving nature of Polygon’s leadership as the project matures and adapts to an ever-changing blockchain landscape.
The news of Bjelic’s departure coincided with a 6.3% drop in the price of POL, which is currently trading at $0.24. This decline aligns with a broader market correction triggered by former President Donald Trump’s threat to impose a 50% tax on the European Union (EU) and a 25% tax on Apple, which sent shockwaves through the cryptocurrency and tech sectors.
What’s Next for Polygon?
While Bjelic’s departure marks the end of an era, Polygon remains committed to its mission of scaling Ethereum and providing cutting-edge solutions for developers and enterprises. With a robust roadmap and a dedicated team, the project is poised to continue its growth trajectory.
Bjelic’s decision to step back reflects the natural evolution of startups as they mature into established organizations. His legacy, however, will endure through the foundational work he contributed to Polygon’s success.
Final Thoughts
The departure of Mihailo Bjelic is a bittersweet moment for the Polygon community. While his exit highlights the challenges of maintaining alignment in rapidly growing projects, it also underscores the resilience and adaptability of Polygon’s leadership team.
As Polygon moves forward under the guidance of Sandeep Nailwal and other key figures, the project is well-positioned to maintain its status as a leader in the layer-2 space. For now, all eyes remain on how Polygon navigates this leadership transition and continues to innovate in the blockchain ecosystem.
