Crypto: Polygon (MATIC) Abandoned by Two of Its Founders

Fri 06 Oct 2023 ▪ 3 min of reading ▪ by Mikaia A.
Getting informed Blockchain

Polygon in a Rough Patch? The news of Jaynti Kanani’s departure comes in a context where the company is gearing up to launch Polygon 2.0. Of the 4 individuals behind this sidechain project aimed at evolving the parent Ethereum blockchain, 2 have departed, within a 6-month interval. What’s really happening? Let’s investigate!


Polygon, Another Co-Founder Bids Farewell

As we edge closer to the advent of Polygon 2.0, promising complete decentralization, we’ve received word that 2 of its captains have called it quits.

According to Daily Coin, Jaynti Kanani’s departure comes six months after that of Anurag Arjung, another co-author of the Polygon project’s whitepaper.

Based on his Twitter post (formerly X), Kanani considered resigning at the same time as his friend Arjung. It is highly likely that the other two co-founders attempted the impossible to retain him over the past six months.

Sandeep Nailwal, one of the lead developers upon whom the future of Polygon depends, did not hesitate to express his disappointment publicly.

“Man this makes me emotional. What a ride we’ve had together brother. But its just the start for Polygon, i wish we could’ve done more for longer together in this crazy journey that is Polygon. But hey, you got to do what you got to do. Lets keep pushing Polygon ahead together, inside or outside of Polygonlabs, it doesn’t matter. Keep killing it Legend!”

It goes to show that the departure of a colleague always stirs emotions.

An impending storm for Polygon?

This departure of Kanani may seem ordinary if not for the context. Indeed, there have been other resignations well before his announcement. We’ve already mentioned that of Arjung. Let’s not forget that Ryan Watt, the president of Polygon Labs, had already stepped down well before the departure of these two Polygon co-founders.

And no member of the crypto community is ready to forget how the fall of FTX affected both investors and the industry as a whole.

Can we hope that Sandeep Nailwal and Mihailo Bjelic will be able to steer the Polygon and MATIC ship (recently renamed POL) to a safe harbor together? Why not? Most of the Ethereum co-founders have already left the blockchain project, and yet it remains one of the top protocols of the moment.

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.

Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.