Polygon’s Sandeep Nailwal Takes Over as Foundation CEO Amid Strategic Shakeup
Polygon, originally Matic Network, is undergoing a significant restructuring under the leadership of its co-founder, Sandeep Nailwal, who has assumed the role of CEO of the Polygon Foundation. This reorganization aims to revitalize the network and reclaim its leading position in the Web3 space.
A key element of this strategic shift is a renewed focus on AggLayer, Polygon’s cross-chain liquidity protocol designed to enhance interoperability. This comes amidst a decline in Polygon’s Total Value Locked (TVL), which has fallen drastically from its peak in 2021, largely due to competition from other Ethereum scaling solutions like Optimism and Arbitrum.
Consequently, Polygon is phasing out its zkEVM Mainnet Beta in 2026 due to challenges related to developer friction, architectural limitations, and low adoption. This decision also coincides with the departure of Jordi Baylina, Polygon’s zero-knowledge research lead, who is pursuing a separate venture.
The revised strategy prioritizes Polygon’s flagship proof-of-stake sidechain, shifting its focus towards real-world financial assets (RWAs). The ambitious roadmap outlines a goal to transform the chain into a high-throughput “gigagas” network capable of processing 100,000 transactions per second and securing trillions in tokenized assets.
This restructuring mirrors similar changes at the Ethereum Foundation, driven by an acknowledgment of the challenges facing the industry. Nailwal attributes Polygon’s refocus to Ethereum’s “existential crisis,” emphasizing a return to a more decisive and agile approach.
The timing of this overhaul is considered advantageous, given the SEC’s dropped investigations into MATIC (now POL), Polygon’s native token. The increased market maker activity following this development is expected to boost POL’s liquidity. The overarching goal is to deliver greater value to POL stakers and enhance market clarity. This includes a clearer focus and streamlined operations, allowing Polygon to adapt to the evolving landscape of the Web3 ecosystem.
