$POL

Polygon Labs co-founder Mihailo Bjelic has announced his departure from Polygon. He is stepping down from his role as developer of the Polygon blockchain and from the board of the Polygon foundation, making him the third senior executive to resign from Polygon.

Bjelic said he will help Polygon as much as he can as an outsider, and believes Polygon's leadership is determined to see the project continue to succeed.

Bjelic co-founded Polygon blockchain in 2017: he has been instrumental in driving innovation in blockchain RnD (Research and Development) and zero-knowledge areas.

But now, three of Polygon's four co-founders have left the company, leaving only Sandeep Nailwal as the company's co-founder.

The Polygon blockchain is currently experiencing a lack of innovation, and since changing its name from MATIC to POL, token prices have been plummeting. It used to be in the top 10 largest tokens by market cap, but now ranks just above 40.

However, there are those who are hoping that Polygon will make a comeback, and if it does, it will need to be able to compete with the next generation of blockchains that are emerging with a lot of innovation.