Polygon Co-Founder Mihailo Bjelic Exits Layer 2

Mihailo Bjelic, one of the four co-founders of Polygon, is exiting the network.

Bjelic made the announcement on X, "After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation, and wind down my day-to-day involvement with Polygon Labs," he said.

With Bjelic's exit, co-founder Sandeep Nailwal becomes the last remaining member of the original founding team.

Nailwal acknowledged Bjelic's contributions to the network and wished him luck for the future.

The layer 2 network, which was original known as Matic, was formed by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic and Anurag Arjun.

As of writing, Polygon's POL is down 5% in the last 24 hours, trading over 23 cents.