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

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.

After kickstarting Polygon in 2017, around 6 months back, I decided to step back from the day-to-day grind.

I'm more confident in Polygon's bright future and passionate community. I'll be focusing on new adventures while still cheering and contributing to Polygon from the…

— Jaynti Kanani (JD) (@jdkanani) October 4, 2023

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.

Lol first Ryan Watt (president of Polygon Labs and head of web3 stuff) leaves, now another cofounder of $MATIC has left 😂

This pace of quitting is smelling like FTX 🤔🤔🤔 https://t.co/tQPm0S250V

— Bobby Apelrod / / nicefeet.sol (@tofushit888) October 4, 2023

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.