Mihailo Bjelic Steps Away From Polygon: A Turning Point For The Protocol

The crypto sector continues to experience significant leadership transitions. Following the departures of Charles Hoskinson from Cardano and other prominent figures, Polygon now faces its own reshuffling: Mihailo Bjelic, one of the project’s founding architects, has announced his exit from the Polygon Foundation board and operational roles at Polygon Labs.

Understanding the Exit

Bjelic’s decision comes amid what he describes as evolving perspectives on the protocol’s future direction. In a statement reflecting on his choice, he explained: “After much reflection, I decided to step down from the Polygon Foundation board and end my daily involvement.” However, his commitment to crypto’s potential remains intact, as he noted: “I am still as passionate about the promise of crypto. You will still see me in the ecosystem.”

This exit represents the third co-founder departure within two years. Previously, Jaynti Kanani and Anurag Arjun had already left Polygon, marking a notable shift in the project’s leadership structure.

Bjelic’s Impact and Legacy

Since 2019, Mihailo Bjelic has been instrumental in advancing Polygon’s zero-knowledge technology initiatives and establishing high-profile partnerships. The protocol secured collaborations with major brands including Starbucks and Reddit, demonstrating its enterprise-level potential.

Most recently, Polygon concluded a strategic partnership with Jio Platforms (controlled by billionaire Mukesh Ambani) aimed at integrating Web3 infrastructure across India, a market representing over 450 million potential users. In March, the ecosystem further expanded with DigiShares launching REX, a real estate tokenization platform built on Polygon.

Ecosystem Response and Concerns

The announcement triggered substantial reactions from the crypto community. Sandeep Nailwal, Polygon’s remaining co-founder, expressed deep appreciation, stating: “More than a co-founder, you are a brother. You have always been a strength behind Polygon.”

Industry observers acknowledged both the personal and strategic implications. Marc Zeller, founder of the Aave-chan Initiative, emphasized the loss: “Big L for Polygon. They have lost one of the few assets they had left.” Meanwhile, Jack O’Holleran of Skale Network acknowledged Bjelic’s achievements as something he could be “very proud of.”

Current State of Polygon

Despite leadership transitions, Polygon continues operating at scale:

• 53,000+ active decentralized applications operate on the network as of 2024
• Over 20 global brands utilize Polygon’s infrastructure
• The protocol maintains its position as a major layer-2 scaling solution

The departure underscores a broader pattern within blockchain development: as projects mature, their founders occasionally shift focus or pursue alternative visions. Whether this transition strengthens or challenges Polygon’s trajectory remains a closely watched development in the crypto community.