Polygon’s governance is present process a major transformation, with co-founder Sandeep Nailwal stepping in because the Basis’s first CEO.
In a June 11 publish on X, Nailwal mentioned:
“As the biggest holder of POL and somebody who devoted his life to improvement and success of Polygon from the very starting, I’ve determined to take full management of Polygon Basis and might be its CEO going ahead.”
Nailwal mentioned he had deliberately prevented taking up the CEO title to permit the Basis to evolve with an institutional method. Nonetheless, he believes Polygon requires stronger management to navigate as we speak’s fast-moving crypto panorama.
This transfer is remarkably prescient, contemplating that Polygon, in accordance with DeFillama knowledge, has gone from a DeFi superpower with a complete worth locked (TVL) of greater than $10 billion at its peak to simply over $1 billion as of press time.
Nailwal linked the platform’s falling fortunes to adjustments in Ethereum’s roadmap and shifts within the crypto business.
Contemplating this, Polygon is reevaluating its construction and priorities to an ecosystem that favors user-focused design over purely research-led improvement.
In line with Nailwal:
“The crypto business has modified from being analysis centric to consumer centric and Polygon wants to vary accordingly. Institutional setups and board constructions are nice for stability, however they have an inclination to supply average-case selections — not the sharp, aggressive strikes wanted to ship exponential outcomes.”
Polygon’s new focus
Following his appointment, Nailwal introduced sweeping updates to Polygon’s technical roadmap, which incorporates sunsetting Polygon zkEVM in 2025 and redirecting all improvement efforts towards two core pillars: Polygon PoS and Agglayer.
Polygon PoS will slim its focus to real-world property and stablecoin transactions, whereas Agglayer goals to unify blockchain networks right into a seamless, trustless atmosphere.
As a part of this shift, Agglayer v0.3 will launch in the course of the last week of June, with interoperability options anticipated to reach by the tip of Q3.
The Basis has deployed the primary milestone in its PoS improve plan, dubbed the Gigagas roadmap. This section brings the community to over 1,000 transactions per second on testnet. Upcoming upgrades intention for sub-second finality and efficiency exceeding 5,000 TPS, with long-term scaling plans focusing on over 100,000 TPS.
Nailwal additionally confirmed that the Agglayer Breakout initiative will proceed, spinning out analysis groups and delivering POL airdrops to stakers. The following spinout, Polygon ZisK, might be led by Jordi Baylina and concentrate on utilized ZK know-how.
