$POL Mihailo Bjelic, co-founder of Polygon, has announced his decision to step down from the board of Polygon Foundation. The Polygon POL (ex-MATIC)

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POL (ex-MATIC) co-founder revealed the move via a post on X on Friday, May 23, 2025, noting that he will also “wind down” his day-to-day involvement with Polygon Labs. Bjelic notes that he first entered the crypto space in 2013, with his foray into the ecosystem seeing “deep down the rabbit hole” by 2017.

He co-founded Polygon, a layer-2 scaling solution on Ethereum Ethereum

ETH3.81%Ethereum alongside Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. The project, among the most searched proof-of-stake blockchain in the U.S. in 2023, rebranded from its initial name Matic Network. While he will no longer be actively involved, he said he is confident Polygon will continue to succeed. Bjelic plans to offer his support “from the sidelines”.

Bjelic’s exit from the Polygon Foundation board sees him join co-founders Jaynti Kanani and Anurag Arjun in stepping down from active roles at the blockchain project. Kanani left Polygon in October 2023.Meanwhile, Arjun left in March 2023 to focus on his modular blockchain project Avail.

Nailwal said via X that words cannot describe what Bjelic means to him personally and to Polygon. More than a co-founder, you’re a brother. From the earliest days — whiteboards full of ideas, endless whitepapers, governance frameworks, strategy calls deep into the night — you have been a force behind so much of what makes Polygon what it is today,” he added.#writetoearn