Mihailo Bjelic Steps Down as Third Founder from Polygon Foundation Board
Mihailo Bjelic, co-founder of Polygon, has stepped down from the board of the Polygon Foundation, becoming the third founder to leave after Jaynti Kanani and Anurag Arjun. Bjelic stated he can no longer contribute effectively to the project, acknowledging its evolution and maturity.
Reasons for Bjelic's Departure
- Bjelic emphasized natural divergence in visions as a reason for his exit.
- He plans to support Polygon from the sidelines.
- His departure follows that of Arjun in March 2023 and Kanani seven months later.
Currently, Sandeep Nailwal is the only remaining co-founder on the board. The founders launched the Layer-2 solution eight years ago, transitioning from Matic Network to Polygon, and recently completing the migration of the MATIC token to POL.
Community Reactions and Market Impact
- Bjelic's exit has prompted concerns among the crypto community regarding Polygon’s stability.
- Some view this trend of departures as detrimental to the protocol.
- Polygon faced challenges earlier in 2025, leading to speculation about potential declines in POL’s value.
- As of now, POL is trading at $0.2368, reflecting a 3.72% decrease, possibly due to Bjelic's announcement.