From Cointelegraph
June 11, 2025 06:10:00 AM:

Polygon co-founder Sandeep Nailwal has become the first CEO of the Polygon Foundation, transitioning away from decentralized governance. The foundation, overseeing Polygon Labs, aims to refocus amidst competition in the layer-2 space. Nailwal seeks to accelerate growth and innovation in the project.

The Polygon Foundation will concentrate on its AggLayer protocol, aiming to enhance interoperability among fragmented chains. Plans include the release of AggLayer v0.3 by year-end and branding alignment with Polygon. The zkEVM chain will be discontinued in 2026 to address scalability issues.

Upgrades to the Polygon proof-of-stake chain, now known as the “GigaGAS” chain, are underway to handle over 100,000 transactions per second. The project aims to facilitate real-life payments and secure trillions of tokenized assets. The upcoming Bhilai upgrade in July will enhance speed, reduce gas fees, and integrate with AggLayer.

Polygon co-founder Mihailo Bjelic recently stepped down from his role within the project, joining other early founders who have also departed Polygon Labs. The team continues to evolve as they navigate challenges and opportunities in the blockchain ecosystem.

Read more at Cointelegraph: Sandeep Nailwal Takes Control of Polygon Foundation as First CEO