Polygon co-founder Sandeep Nailwal has stepped into the role of CEO of the Polygon Foundation, signaling a fresh leadership direction and a bold new vision for the network’s future. Since launching the project in 2017 as Matic Network, Nailwal’s leadership now aims to refocus the organization around AggLayer — Polygon’s innovative cross-chain liquidity protocol designed to facilitate seamless interoperability across multiple blockchain networks.
“This leadership shift marks the start of a strategic push for Polygon to reassert its position at the forefront of Web3,” the team shared in a recent press release. As CEO, Nailwal will oversee long-term strategic planning, drive key ecosystem initiatives, and ensure the foundation — which manages Polygon Labs and related entities — delivers exponential growth and greater value for POL token stakers.
In its early days, Polygon gained popularity by offering a low-cost, fast alternative to Ethereum, providing users with access to decentralized applications without the hefty gas fees. It quickly became a leading Ethereum scaling solution. However, activity has since slowed, with the total value locked (TVL) across Polygon’s networks dropping nearly 90% from its peak of nearly $9.8 billion in June 2021 to around $1 billion today.
Polygon faces increased competition from newer Ethereum scaling solutions, especially layer-2 rollups like Optimism and Arbitrum, which offer comparable user experiences with tighter Ethereum compatibility and enhanced security features. Notably, Polygon’s own zkEVM rollup currently ranks 27th among layer-2 solutions by TVL, trailing behind its newer rivals.
In a strategic move, Polygon has announced plans to sunset the zkEVM Mainnet Beta by 2026, citing issues like developer friction, architectural constraints, and slow adoption. The team indicated that the sequencer will remain operational for the next year to facilitate a smooth transition. Additionally, Jordi Baylina, Polygon’s lead researcher on zero-knowledge technology, will depart to launch his own project, ZisK.
Focusing on its core strengths, Polygon is doubling down on its proof-of-stake (PoS) sidechain, with ambitions to transform it into a “gigagas” network capable of processing up to 100,000 transactions per second and securing trillions of dollars in tokenized assets. This ambitious roadmap reflects a return to Polygon’s roots of scalability and real-world financial asset integration.
This reorganization mirrors recent shifts at the Ethereum Foundation, which also revamped its leadership and strategic direction under Ethereum co-founder Vitalik Buterin. Nailwal emphasized that Ethereum’s current “existential crisis” prompted Polygon to revisit its core identity — adopting a more agile, decisive, and innovative approach to Web3 development.
His goal is clear: “to deliver greater value to POL stakers and bring increased clarity to the broader market.” POL, formerly known as MATIC, is Polygon’s native token, which can be staked to help secure the network and earn rewards. Nailwal also highlighted positive regulatory news, noting that the SEC has cleared MATIC from securities investigations, positioning POL favorably in the market. He expressed optimism as major market makers are returning to support liquidity and trading on exchanges globally.
Polygon’s leadership overhaul and strategic reset aim to reinvigorate its ecosystem, reaffirm its commitment to scalability, and solidify its place in the evolving Web3 landscape.
