In a recent development, the co-founder of Polygon, Jaynti Kanani has announced to step back from the daily operations of Polygon (MATIC), and the future of polygon with Polygon 2.0. He remained a key member of the company for the last six years. However, now Kanani plans to contribute to the protocol from the sidelines. He states that his loyalty and dedication to the platform remain the same, regardless of his latest decision.
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
Jaynti Kanani laid the foundation of Polygon in 2017 with Sandeep Nailwal and Anurag Arjun. However, Kanani will now focus on new adventures after parting ways with the network. Nailwal had a touching response to Kanani’s announcement on X, sharing their journey through the years.
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,…
— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) October 4, 2023
Any Signs of Trouble?
In recent times, three co-founders of Polygon have apparently parted ways with the platform to focus more on their own respective projects. Most recently, Anurag Arjun took his leave and launched a blockchain data availability protocol, Avail. As per details, Polygon has a total of ten co-founders.
Even though it is common for executives to shift from projects in the crypto realm, it is still a matter of concern as multiple departures can weaken the protocol’s reputation. Several crypto protocols like Alameda, Kraken, and Uniswap have seen the departure of their executives in the past year or so.
Polygon 2.0 – What is Next?
Polygon Labs has emphasized the launch and improvement of Polygon 2.0. The network will make use of zero-knowledge proofs along with four primary protocol layers. The platform has invested $1 billion in zero-knowledge technology, showing its commitment to embark on a revolutionizing journey in the blockchain world.
Developers are constantly working to bring Polygon 2.0 to life. It has the tendency to be a breakthrough in the industry. Moreover, Kanani was also quite optimistic about the performance of 2.0 in his farewell tweet. The network continues to believe in its dedication and bright future despite the changes made at the executive level.
On the other hand, the native coin of the network, MATIC, has shed over 4.60% in the last 24 hours. However, it is still up by 10% on last week’s price. The coin is currently trading at $0.56 with a market cap of a little over $5.20 Billion. MATIC is currently at #13 in the list of top cryptocurrencies by market cap.