Introducing The Protocol, CoinDesk's weekly cryptocurrency tech development roundup, brought to you by Margaux Nijkerk and Sam Kessler. This issue covers key network news and updates. Polygon co-founder Sandeep Nailwal has taken the reins as CEO of the Polygon Foundation, marking a significant shift in the organization's leadership and roadmap. The foundation will now focus on AggLayer, a cross-chain liquidity protocol, and retire its zkEVM rollup network.
According to the team, this change marks the beginning of a strategic push for Polygon to reclaim its position in Web3. The Ethereum Foundation has also introduced a new treasury policy, outlining plans for token sales, fiat purchases, and transparency practices to ensure long-term sustainability. The policy includes allocating 15% of the treasury to operational expenses and maintaining a 2.5-year buffer in reserves. Additionally, Bitcoin Core's version 30 release will increase the default limit for OP_RETURN data transactions, and Plume has launched its Genesis mainnet, focusing on real-world assets and tokenizing traditional financial instruments.