We wanted to share some information about a recent corporate restructuring that now unifies all of our employees under a group of companies, referred to as Polygon Labs. This restructuring helps organize and facilitate operations. While there’s no impact to the community, the protocols nor the employees or day-to-day operations of Polygon Labs, we wanted to share the update as you’ll begin to see Polygon Labs in place of Polygon Studios.
Below, please find an overview of some relevant aspects of the ecosystem:
Polygon is the name of the series of blockchain protocols that have been developed or are in development. It is decentralized technology existing at the behest of validators and other third parties. Polygon neither has, nor could have, any employees since it represents a series of decentralized, and generally open source, technology.
Polygon Labs is the group of companies that encompasses all employees, which partakes with others in the Polygon ecosystem, both in further development of Polygon and in growth of the ecosystem. It is owned entirely by Polygon Foundation, and it owns all assets we develop and create and all the funds used in the organization. Ryan Wyatt will serve as President, which does not change his role leading the business team at Polygon Labs. As a result of this restructuring, we are sunsetting the name and brand “Polygon Studios” effective immediately.
Polygon Foundation is a Cayman Islands memberless foundation, meaning that it has no owners. Several of the co-founders are members of the board of directors. Polygon Foundation has no equity owners and is dedicated to supporting Polygon and Polygon Labs. As with Polygon Labs, Polygon Foundation does not control Polygon or lead its community; rather, it fosters and provides support for the ecosystem.
Please ask any questions below.
Kurt Patat (VP Comms and Community)