Polygon Cofounder Sandeep Nailwal Takes Over As CEO

L2 blockchain startup Polygon’s cofounder Sandeep Nailwal will take over as the chief executive officer (CEO) of Polygon Foundation, which supervises Polygon Labs and other entities.

“I have decided to take full control of Polygon Foundation and will be its CEO going forward. Polygon Foundation owns and oversees multiple entities including one of the major contributors, Polygon Labs, which will continue to be led by Marc Boiron as its CEO, who in my mind is the best executive/leader in the entire crypto industry,” Nailwal said in an X post.

He said that the reason behind such a move aligns with Polygon’s vision on clear direction and focused execution. “With a healthy treasury and several hundred million in cash, we’re in a great position to keep building for the long term, without any distractions or pressure to raise.”

Nailwal cofounded Polygon as a layer 2 scaling project along with Jaynti Kanani, Anurag Arjun, and Mihailo Bjelic in 2017. According to Nailwal, Polygon is not only focused on decentralised finance but is also going high on gaming and NFTs (non-fungible tokens).

Besides Polygon, Nailwal also cofounded Sentient Foundation in 2024. The San Francisco-based company is built on the Polygon CDK chain and aims to develop an open-source decentralised AI and, eventually, AGI.

Meanwhile, Nailwal also made few other announcements regarding the updates in Polygon. This includes the focus of Polygon to be on its protocols Polygon Proof-of-Stake (PoS) and Agglayer, where Polygon PoS will focus on Stablecoin payments and RWAs, while Agglayer will focus on building a trustless Internet of Blockchains.

He also highlighted the company would engage in educational campaigns to ensure there is awareness on its upgrade of MATIC to POL, which was part of Polygon’s plan to improve its blockchain network, called Polygon 2.0.