- Polygon co-founder Jaynti Kanani is taking a step back from the project.
- Mixed reactions have trailed Kanani’s decision.
- With Kanani’s exit, only two of Polygon’s original creators are left actively working on the project.
As the Polygon ecosystem evolves, the leadership structure of Polygon Labs, the firm behind the blockchain network, is also undergoing significant changes. Aside from the departure of executives, some of the project’s original visionaries are also leaving.
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Following the departure of Anurag Arjun in March 2023, Jaynti Kanani, another of the four authors of the project’s whitepaper, has announced that he is stepping back.
Polygon’s Kanani Steps Down
In a Twitter statement on Wednesday, October 4, Kanani disclosed that he had decided to take a step back from the day-to-day activities at Polygon six months ago and will now focus on new ventures while contributing from the sidelines after six years on the project.
While Kanani did not specify what new ventures he would be working on, he announced that he had welcomed a new child hours later.
Unsurprisingly, the co-founder’s decision to step back from Polygon has sparked mixed reactions within the community.
Mixed Reactions Trail Kanani’s Exit.
Several members of the Polygon community, including Polygon Labs Executive Chairman and fellow co-founder Sandeep Nailwal, showed appreciation for Kanani’s contributions and wished him well in his future endeavors.
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"Man this makes me emotional. What a ride we've had together brother. But its just the start for Polygon, i wish we could've done more for longer together in this crazy journey that is Polygon. But hey, you got to do what you got to do. Lets keep pushing Polygon ahead together, inside or outside of Polygonlabs, it doesn't matter. Keep killing it Legend!" Nailwal tweeted in response to Kanani's statement.
Nonetheless, following the announcement of Kanani’s departure, some skeptics wonder if trouble is brewing for Polygon Labs. One user likened the pace of leadership exits to the executive exodus observed at FTX just before the crypto exchange collapsed. It does not help that the SEC labeled MATIC an unregistered security in enforcement actions against Binance and Coinbase.
With the exit of Kanani, only two of Polygon’s original co-founders remain actively working on the project, including Nailwal and Mihailo Bjelic. DailyCoin could not reach Polygon Labs for comment on whether or how recent exits would affect the project’s direction.
Polygon is now going multichain and is set to undergo several big changes with its 2.0 roadmap, which Kanani has claimed to be bullish on despite now leaving the project.
On the Flipside
- The changes taking place at Polygon are more common than people may think. For example, many of Ethereum‘s eight co-founders have moved on to other projects.
- Polygon’s website shows ten founders, including people who have joined following the initial launch to push the project in new directions.
Why This Matters
Jaynti Kanani was one of the original visionaries for the Polygon project. His departure may herald a significant shift in the project’s direction.
Read this to learn more about Polygon’s new direction:
How Polygon 2.0 Brings the Polygon Ecosystem Together
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