Polygon (MATIC) co-founder is leaving the company: here’s why

  • Polygon co-founder Anurag Arjun said Thursday that he is leaving Polygon to work on another project.
  • Arjun will be working on a project that previously belonged to Polygon.
  • It’s not “goodbye,” another Polygon co-founder, Sandeep Nailwal, said.

polygon (matic) It has been one of the biggest winners in the cryptocurrency world over the past few years. With multiple solutions for scaling Ethereum in production, the company is set to become Layer 2 strength in the near future.

However, on Thursday Polygon made an announcement that surprised its user base — one of Polygon’s co-founders has left the company.

Leaves Co-Founder Leaves

Polygon co-founder Anurag Arjun tweeted yesterday that after more than five years of building Polygon, he’s leaving the company.

the reason? Arjun said it will be working on Avail, a modular blockchain optimized for saving data. Avail used to belong to Polygon Labs and the Polygon Foundation but will now be spun off and exist on its own with Arjun as its founder.

Sandeep Nailwal, another Polygon co-founder, said on Twitter that Arjun’s departure is not a “goodbye”.

“The Polygon protocol would not be what it is today without the leadership and technical vision of Anurag. While Anurag’s great intelligence and energy will be wasted, this is not goodbye. It will solve the scalability challenge that is key to Web3’s common mission.”

Arjun’s exit comes just 10 days before Polygon releases it zkEVM Sizing solution. zkEVM polygon, It is expected to be released on March 27being the first such project to be deployed on the Ethereum mainnet.

MATIC had no major reaction to the news of Arjun’s departure announcement. MATIC is currently trading at around $1.18, up 3.9% in the past 24 hours, according to data From CoinGecko.

on the flip side

  • It is unclear why Avail is not included within Polygon.

Why should you bother

Polygon is one of the largest Ethereum scaling companies in the Ethereum ecosystem. One of the company’s co-founders leaving the company 10 days before its upcoming product launch could be seen as a cause for concern, though it is unknown why exactly Arjun decided to leave the company.

Read more about the Polygon zkEVM launch:

Polygon (MATIC) zkEVM Receives Final Approval for the March Edition

Read more about expected ETH Staking withdrawal time:

Ethereum developers have confirmed the date for the ETH Staking draw

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