Sandeep Nailwal, co-founder of the blockchain project Polygon, has taken the helm of Polygon Foundation as CEO and announced a major restructuring of the organization.
This is reported by Finway
Changes in Strategy and Development of Polygon Infrastructure
Under Nailwal’s leadership, Polygon Foundation will focus on enhancing value for POL token stakers, as well as on transparency and clarity for the market. One of the key decisions has been to discontinue support for zkEVM technology by 2026. From now on, the team will concentrate on two main areas: the Polygon PoS blockchain and the Agglayer platform.
Polygon PoS will specialize in stablecoin payments and the tokenization of real assets, while Agglayer will serve as the foundation for interaction between different blockchain networks. At the same time, the primary focus will be on scaling and increasing the network’s throughput.
Roadmap Updates and Launch of New Products
The first phase of the update, called Gigagas, has already been deployed in the test network. This will enable Polygon to achieve over 1000 transactions per second by early July. Plans include ensuring transaction finality in less than a second and increasing speed to 5000 transactions per second by fall 2025. In the long term, the team aims to scale the network to over 100,000 transactions per second.
Next week, starting June 30, the launch of the updated version of Agglayer is expected. Only one feature remains to be implemented by the end of the third quarter — fast cross-chain interaction. The Agglayer Breakout program will open up opportunities for launching new projects within the ecosystem and conducting airdrops for POL stakers.
Polygon will continue to develop zero-knowledge technologies under the new direction Polygon ZisK, which will be overseen by Jordi Bailina. A series of educational initiatives are planned to support the transition from MATIC to POL.
“With a healthy balance and several hundred million in cash, we are in a great position to continue building long-term infrastructure without distractions and pressure to raise funding,” said the CEO of Polygon Foundation.
In the updated communication strategy, the Polygon brand will once again become central to the project, while Agglayer will be used as an infrastructure platform.
It was previously reported that another co-founder of Polygon, Mykhailo Belych, has left the company.