Polygon co-founder Sandeep Nailwal has formally assumed the role of Chief Executive Officer.
This appointment signifies a significant shift for Polygon, moving from a decentralized governance model towards centralized leadership.
The strategic change aims to accelerate the development of critical projects, particularly the AggLayer interoperability protocol, by streamlining decision-making.
Concurrently, Polygon announced plans to sunset its zkEVM chain by 2026, citing its performance limitations.
Resources will be reallocated to focus on technologies deemed to have higher potential for broader, mass-market adoption.
Technical upgrades remain a priority, with the Bhilai enhancement scheduled for July.
This upgrade targets faster transaction finality, reduced network gas fees, and deeper integration with the evolving AggLayer framework to maintain Polygon’s competitive positioning.
Amidst these changes, Polygon’s native POL token continues to face market pressure.
Its value has declined over 80% from its all-time high, reflecting wider market challenges.
Despite this, the Polygon ecosystem demonstrates resilience, evidenced by the achievement of $2 billion in NFT sales.
Leadership changes also include co-founders Mihailo Bjelic, Jaynti Kanani, and Anurag Arjun stepping down from their executive roles.
Their departure further concentrates executive decision-making authority in Nailwal’s hands as CEO.