Polygon co-founder Sandeep Nailwal has been appointed the first-ever CEO of the Polygon Foundation, moving away from the decentralized governance model previously adopted. This significant leadership change aims to streamline operations and re-energize the platform amid growing competition in the layer-2 blockchain space.

Nailwal highlighted the need for swift, decisive action to maintain Polygon’s competitive edge. “Now, it is time to again move fast, aggressively, and with full conviction and focus,” Nailwal explained. The foundation oversees Polygon Labs and other ecosystem divisions, with Nailwal's appointment marking a major strategic pivot.

This change comes at a challenging time for Polygon, as its native POL token remains over 80% down from its highest value, according to CoinMarketCap. To address these hurdles, Polygon Foundation is set to prioritize AggLayer, its interoperability protocol designed to integrate different blockchain networks seamlessly. An updated AggLayer v0.3 will launch by year-end, solidifying Polygon’s branding and technical strategy.

In another strategic shift, the foundation plans to discontinue the zkEVM chain in 2026 due to scalability challenges. Meanwhile, the Polygon proof-of-stake (PoS) chain will transform into a powerful "GigaGAS" network, capable of handling over 100,000 transactions per second. This upgrade aims to support daily financial transactions and secure massive volumes of tokenized assets.

Polygon also plans the Bhilai upgrade in July, promising faster transaction finality, lower fees, and improved AggLayer integration, enhancing its appeal for payment providers. Current major partnerships include prominent financial institutions such as JPMorgan and Stripe.

This leadership shift coincides with recent departures of other Polygon founders. Mihailo Bjelic, Jaynti Kanani, and Anurag Arjun have all stepped away, marking a significant restructuring phase for the blockchain giant.