According to CoinDesk, Jaynti Kanani, co-founder of Ethereum layer 2 Polygon, has announced that he is stepping back from the day-to-day operations of the network. Kanani, who founded Polygon in 2017 alongside Sandeep Nailwal and Anurag Arjun, revealed his plans in a post on X (formerly Twitter) on Wednesday. He stated that he would be focusing on new adventures while still cheering and contributing to Polygon from the sidelines.

Sandeep Nailwal, co-founder of Polygon, responded to the post, expressing his emotions and wishing they could have worked together longer on the project. He also emphasized the importance of continuing to push Polygon forward. In July, Polygon Labs, the company behind the network, experienced a shakeup in its top management, with chief legal officer Marc Boiron being promoted to CEO and President Ryan Wyatt stepping down to serve in an advisory role.

The network's native token, MATIC, remains unfazed by the news, maintaining its $0.55-0.58 range that it has held since the beginning of the month. At the time of writing, it is priced at $0.58, up 3.5% in the last 24 hours. Polygon declined to comment on Kanani's departure when contacted by CoinDesk.