Sandeep Nailwal, co-founder of Polygon, has announced his new role as CEO of the Polygon Foundation, promoting the idea that singular leadership is essential for reaching new heights.
Transformation of Polygon's Governance
In an interview with Cointelegraph, Nailwal stated that moving away from a board-led governance model is not just a structural change but a strategic response to inefficiencies hampering Polygon's progress. He officially took on the role of CEO of the Polygon Foundation on June 11, calling the decision necessary for providing 'clear direction and focused execution'.
Shifting Focus: From zkEVM to Real Assets
Nailwal indicated a pivot towards real-world assets and stablecoin payments through Polygon PoS, phasing out the zkEVM chain. The total value locked in zkEVM has dramatically decreased from $35 million to $2.75 million. Despite setbacks, Nailwal emphasizes that NFTs will continue to play an important role in asset tokenization, and stablecoins are set to become crucial for the project.
The Future of Polygon under Single Leadership
With the shift to singular leadership, Nailwal remarked on the need to accelerate decision-making processes and return to product development. He acknowledges that this may not please everyone but is essential for Polygon's long-term growth. The project aims to achieve a target of 100,000 transactions per second as part of its 'Gigagas' roadmap.
The new initiatives under Sandeep Nailwal's leadership could define Polygon's future, and time will tell if they lead to well-deserved success.
