Polygon Co-Founder Mihailo Bjelic Steps Down from the Board

In a major update for the Polygon ecosystem, co-founder Mihailo Bjelic has officially stepped down from the board of the Polygon Foundation and ended his day-to-day

In a significant development in the Polygon ecosystem, co-founder Mihailo Bjelic has announced his departure from the board of the Polygon Foundation and his day-to-day role at Polygon Labs.

Bjelic took to X, formerly Twitter, to share the news with his followers. "After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation and wind down my day-to-day involvement with Polygon Labs," he wrote.

Why Is Bjelic Stepping Down?

Bjelic, who discovered crypto in 2013, has been a passionate advocate for the technology’s potential to disrupt traditional finance. He joined the journey with Polygon in 2019, and together with the team, they have transformed it into one of the leading Ethereum scaling solutions.

"From significant breakthroughs in zero-knowledge tech to onboarding some of the world’s biggest brands, we’ve made meaningful strides toward that grand vision," Bjelic stated, highlighting some of the milestones achieved.

While the next chapter holds new possibilities, which Bjelic briefly alluded to in his post, his decision to step back is driven by an evolution in vision within the team, as he explained.

"As projects evolve and mature, it is natural for visions to evolve and sometimes diverge. With this in mind, I can no longer contribute to Polygon to the best of my abilities, and the time has come for me to move on to the next stage of my journey."

Despite this change, Bjelic expressed his unwavering support for the project's future endeavors and his belief in the broader crypto space to revolutionize the financial landscape.

What's Next for Polygon?

Bjelic's departure has sparked reactions from many in the Polygon community, with several noting the impact of Bjelic's contributions to the network. Sandeep Nailwal, another Polygon co-founder, acknowledged Bjelic's role in the network's achievements.

"You've been a force behind so much of what makes Polygon what it is today. Your leadership, vision, and passion have been instrumental in our journey. Personally, I'm grateful for your friendship, guidance, and support over the years," stated Nailwal.

Bjelic's exit follows the departure of other founding members, including Jaynti Kanani and Anurag Arjun, in recent years. As one era ends, another begins for the protocol as it continues to innovate.

The focus remains on pushing the boundaries of Web3 technology, and the protocol is prepared for the next chapter of its evolution. Its performance in Q1 2025 showcases its resilience.

Q1 Data Shows Resilience

The protocol's Q1 performance showcases its resilience and continued growth in key areas.

According to the latest report by crypto analytics firm Messari, Polygon saw a strong start to the year with new highs in daily active addresses and transactions. The protocol's performance in key metrics showcases its resilience and continued growth despite broader market fluctuations.

The report highlights a 4.4% quarter-over-quarter increase in daily active addresses to reach 546,000. Transaction activity also saw a remarkable surge with daily transactions hitting 3.4 million, marking an 8% quarter-over-quarter increment.

While there was a 14% drop in total value locked (TVL) for Polygon, showcasing the impact of broader market trends on the DeFi sector, the protocol saw a significant resurgence in its stablecoin market.

Stablecoin supply on Polygon underwent a noteworthy 23.3% increase to reach $2 billion in Q1, with USDC taking the lead among all chains. This surge in stablecoin confidence signals the strength of Polygon's financial infrastructure despite broader market impacts.

The scaling solution also performed well in its NFT market with daily trades hitting $1.4 million, a 68.2% increase.

In terms of gaming, there was a good boost in engagement with user growth and daily transactions recording a notable increase.

Moreover, Polygon underwent some major upgrades including a transition from $MATIC to $POL and the introduction of new products like Balena and Node Engine. These updates showcase the protocol's activity despite some leadership changes.