Sandeep Nailwal Becomes CEO of Polygon Foundation Amid Major Overhaul
Polygon's co-founder Sandeep Nailwal has taken over as CEO of the Polygon Foundation, aiming for aggressive growth and protocol consolidation. His leadership focuses on two main components: the Polygon PoS chain and Agglayer.
Key developments include:
- The deprecation of zkEVM by next year.
- Polygon PoS will facilitate stablecoin payments and tokenized real-world assets.
- Agglayer is being developed as a cross-chain interoperability protocol.
- Current testnets show transaction speeds exceeding 1,000 TPS, with goals of reaching 100,000 TPS in the coming years.
- Agglayer v0.3 is set for release during the week of June 30, excluding fast interoperability features targeted for Q3 completion.
- The Agglayer Breakout program will launch several new ZK-focused projects, including Polygon ZisK.
- Agglayer will now operate under the Polygon brand for unified identity.
Nailwal plans to communicate major updates through his personal social media, moving away from committee-led decision-making.
Currently, POL is trading at $0.2191, down 2.92% today, forming a bullish base near $0.2176, with breakout resistance at $0.2773.