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Polygon’s co-founder Sandeep Nailwal takes decisive control as CEO, dissolving the board and refocusing the network’s strategy on real-world assets and stablecoin payments.
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With the sunset of zkEVM, Polygon pivots towards enhancing its PoS chain and AggLayer infrastructure, aiming to scale to 100,000 transactions per second under the ambitious Gigagas roadmap.
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According to Nailwal, this leadership shift is essential to overcome past governance delays and position Polygon as a leader in blockchain tokenization and stablecoin adoption.
Polygon’s CEO Sandeep Nailwal dissolves the board to streamline governance, phases out zkEVM, and focuses on real-world assets and scaling to 100,000 TPS.
Streamlining Governance: Nailwal’s Vision for Polygon’s Future
In a bold move to accelerate Polygon’s development, Sandeep Nailwal has dissolved the network’s board, assuming sole leadership as CEO of the Polygon Foundation. This strategic shift addresses the inefficiencies caused by prolonged decision-making processes under the previous governance model. Nailwal emphasizes that the change is not merely structural but a necessary step to bring clear direction and focused execution to the project’s evolving roadmap.
By centralizing authority, Polygon aims to reduce bureaucratic delays that previously extended decision timelines from weeks to months. Nailwal’s leadership style, described as a “servitude mentality,” balances empathy with the urgency required to navigate the competitive blockchain landscape. This approach reflects his commitment to community engagement while prioritizing Polygon’s long-term sustainability and innovation.
From Institutional Governance to Agile Execution
Polygon’s initial attempt to institutionalize governance through a board mirrored traditional corporate structures, aligning with its rapid growth during 2021 and 2022. However, Nailwal acknowledges that this model hindered agility, a critical factor in the fast-paced crypto industry. The dissolution of the board signifies a return to a more startup-like environment, where nimble decision-making can drive product development and market responsiveness.
This shift also aligns with broader industry trends favoring operational efficiency and real-world application over theoretical research. Nailwal notes the transition from early zero-knowledge proof innovations to tangible use cases such as tokenization and stablecoin payments, positioning Polygon to capitalize on emerging market demands.
Phasing Out zkEVM: Strategic Refocus on PoS and Real-World Assets
Polygon’s decision to sunset its zkEVM chain by 2026 marks a significant pivot in its technological strategy. Despite initial enthusiasm and endorsements from Ethereum co-founder Vitalik Buterin, zkEVM struggled to attract sustained user engagement and generate meaningful fees, operating at a loss according to DefiLlama data. The decline in assets locked on zkEVM—from over $35 million in mid-2023 to under $3 million—underscores the challenges faced by this layer-2 solution.
In response, Polygon is concentrating efforts on its Polygon PoS chain and AggLayer infrastructure, which continue to demonstrate robust activity. The PoS chain maintains over $1 billion in total value locked and supports substantial stablecoin liquidity, hosting approximately $1 billion each in USDC and USDT. This focus leverages Polygon’s strengths in scalability and stablecoin integration, essential components for mainstream blockchain adoption.
Real-World Assets and Stablecoins: The New Frontier
Nailwal highlights the growing importance of real-world assets (RWAs) and stablecoin payments as primary growth drivers for Polygon. He envisions NFTs evolving beyond speculative hype to become foundational tools for asset tokenization, enabling both fungible and non-fungible representations of value. This perspective aligns with institutional interest in tokenized assets, exemplified by BlackRock’s multi-chain tokenized money market fund, which includes Polygon.
Furthermore, regulatory developments such as the US Senate’s GENIUS stablecoin bill signal increasing legitimacy and potential for stablecoin use cases. Polygon’s strategic emphasis on these sectors positions it to benefit from regulatory clarity and institutional adoption, reinforcing its relevance in the evolving crypto ecosystem.
Scaling Ambitions: The Gigagas Roadmap to 100,000 TPS
Looking forward, Polygon’s “Gigagas” roadmap aims to scale the network to an impressive 100,000 transactions per second (TPS), a benchmark that would place it alongside leading blockchain platforms. This ambitious target reflects the network’s commitment to addressing scalability challenges and meeting the demands of high-throughput decentralized applications.
Nailwal’s leadership is critical in driving this vision, as streamlined governance enables faster product iterations and resource allocation. The success of this scaling effort will be a key indicator of Polygon’s ability to maintain competitiveness and attract developer and user engagement in a maturing market.
Community Response and Future Outlook
The community’s reaction to Nailwal’s consolidation of leadership has been mixed. While some applaud the decisive “wartime CEO” approach, others remain cautious due to the financial and strategic costs associated with the zkEVM project. Nonetheless, Nailwal remains resolute, emphasizing the necessity of focused execution over consensus-driven delays.
As Polygon navigates this critical phase, the network’s ability to deliver on its scaling goals and capitalize on real-world asset tokenization will determine its standing in the blockchain hierarchy. Nailwal’s commitment to balancing community engagement with pragmatic leadership will be instrumental in shaping Polygon’s trajectory.
Conclusion
Polygon’s governance overhaul under Sandeep Nailwal marks a pivotal moment, reflecting a strategic shift towards streamlined decision-making and practical innovation. By phasing out zkEVM and prioritizing real-world assets, stablecoin payments, and aggressive scaling, Polygon aims to reaffirm its position in the competitive blockchain landscape. The coming months will be crucial as the network pursues its 100,000 TPS milestone and seeks to demonstrate tangible value to users and investors alike.
