Polygon (MATIC) Labs Head of DeFi Jumps Ship, Joins Berachain

Polygon (MATIC) Labs Head of DeFi Jack Melnick moves to Cosmos-based Berachain.

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  • Last week, Polygon (MATIC) Labs Head of DeFi Jack Melnick disclosed that he was leaving the firm.
  • Melnick has now disclosed a new role at the Cosmos-based Berachain.
  • Despite the move, Melnick has asserted that he maintains a positive outlook on Polygon.

Another Polygon (MATIC) Labs executive has jumped ship. 

In recent months, the project has weathered an onslaught of key executive exits to competing projects, from its president in November 2023 to its head of business development in January 2024. Now, the firm’s former head of DeFi, Jack Melnick, has followed suit after announcing that he was leaving last week.

Melnick Announces New Role

In an X post on Monday, May 13, Melnick disclosed that he was starting his first day as head of DeFi at Berachain: a Cosmos-based EVM compatible project that tries to address liquidity concerns that can arise from the Proof-of-Stake (PoS) model through a novel consensus model dubbed Proof-of-Liquidity (PoL). 

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Explaining the rationale behind his decision, Melnick suggested that moving to Berachain took a long time.

“I’ve been in the trenches of the Berachain community for almost three years, and as [Berachain co-founder] @SmokeyTheBera used to say: ‘it’s when, not if’ I came on full time.

Grateful to have found the ulitmate [sic] culture & work fit – getting to do the job I love, with friends I’ve built alongside and respected for years,” he enthused.

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Melnick first announced that he was stepping down from his role at Polygon (MATIC) Labs on Thursday, May 9, stating that he remained “excited about the things getting built on Polygon.” 

Read this for more on Polygon executives jumping ship in recent months:
Optimism Poaches Polygon’s Biz Dev Head in Emerging Trend

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Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.