Polygon co-founder Mihailo Bjelic announces departure, marking the third founder to exit the project

TechFlow, May 24 — According to The Block, Polygon co-founder Mihailo Bjelic has announced his departure from active development of the blockchain project and resigned from the board of the Polygon Foundation.

Bjelic stated on X: "As the project evolves and matures, visions naturally shift and sometimes diverge. With this in mind, I can no longer contribute to Polygon in the best possible way." He will step down from his role at Polygon Labs, the primary development studio behind the blockchain.

Bjelic co-founded the Ethereum layer-2 network, originally named Matic Network, in 2017 alongside Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. This departure marks the third co-founder to exit an active role at Polygon, following Kanani and Arjun.

Following the news, Polygon's native token POL dropped approximately 3.7% to $0.24.