“Nailwal Will Steer The Polygon Foundation As It Shuts Down Zkevm, Doubles Down On POS, AND PLOTS A RETURN to Ethereum Scaling Dominance.”, – WRITE: www.coindesk.com
Nailwal, Who Launched The Project in 2017 Who Was Still Called Matic Network, Will Consolidate Control and Reorient The Team Toward Agglayer Interoperability Across Networks.
“This Renewed Control Marks The Beginning of A Strategic Push for Polygon to Reclaim It Position at the Forefront of Web3,” The Team Wrote in a Press Release Shared With Coindesk
As Chief Executive, Nailwal Will Steer Long-Term Planning, Guide Key EcoSystem Initiatiats, and ENSURE THAT AFUNTTTEM Increasted Focus and Greater Value to Pol Stakers, “Account to the Foundation.
In itts Early Days, Polygon’s Proof-of-Stake Sidechain Marketed Itelf as a Low-Cost, Fast Alternative to Ethereum, Providing USERS WITH HIGHIGZED TO DECENTRALZED APHESED APHESED APHOTHIUD WITHHIU IT QUICKLY ROSE TO PROMINEENCE AS A GO-TO EHEREUM SCALING SOLUTION.
But Activity Has Since Cooled. Total Value Locked (TVL) Across Polygon Networks Has Fallen to around $ 1 Billion, Down Nearly 90% From ITS June 2021 Peak of $ 9.79 Billion, Per Defillama.
Polygon have Ceded Gund to a new Wave of Ethereum Scaling Networks-Namely “Layer-2 Rollups” like Optimism and Arbitrum Sophisticated Security Systems. Polygon’s Own Rolup, Zkevm, Ranks Just 27th by TVL Among Layer-2s, Account to L2Beat, Trailing Well Behind ITS NEWER COMPETITERS.
NOW, The ZKEVM Experiment is Being Prased Out. Polygon SAID IT WILL Sunset the ZKEVM Mainnet Beta in 2026, Citing Developer Friction, Architectural Limitations, and Sluggish Adoptation. “To Enseure A Smooth Transition, The Sequencer Will Remain Live for the Next Twelve Months,“ The Team Noted.
The Decision Also Comes With a Key Personnel Shift: Jordi Baylina, Polygon’s Zero-Knowledge Research Lead, Will Leave to Spin Out His Own Project, Zisk.
As part of of it Strategic Reset, Polygon Will Double Down on Its FlagShip Pos Sidechain, Now Targeting Real-World Financial Assets (RWAS). The Foundation Teased An “Ambitious RoadMap” with Milesnes to transform the chain intens a “gigagas” Network Capable of Processing 100,000 Transactions Per Second and Security Trillions in Tocking Trillions in Tenises.
Polygon’s Reorganization Mirrors Changes at the Ethereum Foundation, WHICH RECENTLY RESTRUCTUL ITS LEADERSHIP AND REVAMPED ITS ROADMAP IN A PROCESS LED BYIRIN.
In a post on X, Nailwal SAID Ethereum’s “Existential Crisis” Had Pushed Polygon to Revisit ITS Core Identity-Returning to a Bolder, More Nimble, and More Decisive “Zero-Ton.
His Stated Goal: “To Deliver Greater Value to Pol Stakes and Bring Increased Clarity to The Broader Market.” Pol, Previoously Called Matic, Is Polygon’s Native Token. The Asset Can Be “Staged” with Polygon’s Pos Network to Help Secure It In Exchange for Rewards.
The Timing of the Revamp, Nailwal Suggested, Could Work in Pol’s Favor.
“The Sec Has Droped It Investigations and Lawsuits Related to Matic as A Security, WHICH SHOULD HAVE NEVER EXISTED GIVEN THE NATURE OF MATIC (AND NOW POL),” He Wrote. “We Are Are Excited To See Several Large Makers Coming Back to the Table In Recent Days to Make Markets in Pol that StrengThens the Liquidity of Polish.”
Read More: Polygon, GSR Release Katana Network Tackle Defi Fragmentation
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