Jaynti Kanani, the co-founder of Ethereum layer 2 Polygon, has announced that he is taking a break “from the day-to-day grind” of maintaining the network.In a post on X (formerly Twitter) on Wednesday, Kanani, who co-founded Polygon with Sandeep Nailwal and Anurag Arjun in 2017, detailed his plans. He said he “decided to step back” about six months ago and that he would be “focusing on new adventures while still cheering and contributing to Polygon from the sidelines.”
Co-founder Sandeep Nailwal responded to the post by saying, “I wish we could’ve done more for longer together in this crazy journey that is Polygon. But hey, you got to do what you got to do.”
The network’s creator, Polygon Labs, reorganized its executive team in July, with president Ryan Wyatt stepping down to take on an advising position and chief legal officer Marc Boiron appointed to CEO.The native token of the network, MATIC, is now unaffected by the news and is still trading in the same band of $0.55 and $0.58 that it has been in since the beginning of the month.Its price is $0.58 at the moment of writing, an increase of 3.5% over the previous day.