Polygon Co-Founder Leaves, Project to Be Spun Off Into Avail

• Polygon (MATIC) co-founder Anurag Arjun announced on Thursday that he is leaving the company to work on another project.
• Sandeep Nailwal, another Polygon co-founder, said that it’s not a „goodbye.“
• MATIC had no significant reaction to the news of Arjun’s departure announcement.

Polygon (MATIC) Co-Founder Departs Company

Anurag Arjun, one of Polygon’s co-founders, announced on Thursday that he is leaving the company to work on another project. This comes just 10 days before the launch of their zkEVM scaling solution.

Project Formerly Owned by Polygon

Arjun will be working on Avail, a modular blockchain optimized for data availability. This project used to belong to Polygon Labs and Polygon Foundation but will now be spun off and exist independently with Arjun as its founder.

Polygons Visions for Ethereum Scaling Solutions

Polygon has been one of the biggest winners in the cryptocurrency world over the past few years. With multiple Ethereum scaling solutions in production, they are set to become a layer 2 powerhouse in the near term future.

Reaction from Other Co-Founder

Sandeep Nailwal, another Polygon co-founder, said on Twitter that Arjun’s departure isn’t a „goodbye.“ He also said that without his leadership and technical vision, The Polygon protocol would not be what it is today.

MATIC Price Reaction

MATIC had no significant reaction to the news of Arjun’s departure announcement and is currently trading at around $1.18, up 3.9% in the past 24 hours according to CoinGecko data.