Polygon Co-Founder Mihailo Bjelic Steps Down. What’s Next ?

In a major update for the Polygon ecosystem, co-founder Mihailo Bjelic has officially stepped down from the board of the Polygon Foundation and ended his day-to-day involvement at the company. Bjelic shared the news in an X post, writing, “After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation and wind down my day-to-day involvement with Polygon Labs.”

Why is Bjelic stepping down?

Bjelic, who discovered crypto in 2013, has passionately advocated blockchain’s potential to challenge traditional finance. He got involved with Polygon in 2019, and under his leadership, Polygon evolved into one of the top Ethereum scaling solutions.

He wrote, “From significant breakthroughs in zero-knowledge tech to onboarding some of the world’s biggest brands, we’ve made meaningful strides toward that grand vision.”

Although Bjelic didn’t specify what’s next for him, his post made it clear that the decision stems from an evolving vision within the team.

“As projects evolve and mature, it is natural for visions to evolve and sometimes diverge,” he added. “With this in mind, I can no longer contribute to Polygon to the best of my abilities.”

Despite stepping back, Bjelic emphasized his continued support for the project and belief in crypto’s broader mission.

What’s Next for Polygon?

Bjelic’s resignation sparked widespread reaction across the Polygon ecosystem, with many seeing it as a loss for the network. Polygon co-founder Sandeep Nailwal recognized Bjelic’s achievement at Polygon, noting that he had “been a force behind so much of what makes Polygon what it is today.”

His departure follows other notable exits, Jaynti Kanani and Anurag Arjun, in recent years. While this marks the end of an era for Polygon’s founding team, the protocol isn’t slowing down. The focus remains on innovation, and the network’s Q1 2025 performance displays its resilience.

Q1 Data Shows Resilience

Q1 data suggests growth in key areas across the network. For example, daily active addresses climbed to 546,000, a 4.4% increase from the previous quarter. Transaction activity also climbed remarkably, with daily transactions reaching 3.4 million, an 8% quarter-over-quarter increase.

Although Polygon’s DeFi numbers performed below par, with a 14%drop in total value locked (TVL), the network saw a resurgence in its stablecoin market. Stablecoin supply rose by 23.3% to hit $2 billion, with USDC leading the charge across all chains. This increase signals continued confidence in Polygon’s financial infrastructure, despite broader market fluctuations.

The scaling solution also saw solid performance in its NFT market, with daily trades hitting $1.4 million, a 68.2% increase. Meanwhile, gaming saw a good boost in engagement in Q1, recording a notable increase in both user growth and daily transactions. Polygon has also made some major upgrades, including a transition from $MATIC to $POL.

These updates show that the network is still active despite some leadership changes.

Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.