Polygon's Jordi Baylina Spins Off Zisk Amid zkEVM Shutdown

- Jordi Baylina launches Zisk, focusing on low-latency, open-source zero-knowledge VM technology. - The new venture follows the phasing out of Polygon's zero-knowledge EVM network. On June 18, 2025, CoinDesk reported that Polygon co-founder Jordi Baylina launched Zisk. This independent venture focuses on low-latency, open-source zero-knowledge virtual machine (zkVM) proving technology. Zisk launches as the Polygon Foundation plans to wind down its zero-knowledge EVM (zkEVM) network, which faced underutilization and financial challenges, including operating at an annual loss exceeding $1 million. Furthermore, the network encountered integration issues, most notably failing to incorporate Ethereum's EIP-4844 "blobs." According to various reports, the team had already quietly discontinued development on the zkEVM before any official notification. Polygon Labs incubated the Zisk project starting in May 2024, and it achieved full independence on June 13. As part of this transition, Polygon Labs transferred all intellectual property and the core team associated with zkEVM to SilentSig GmbH, a Swiss company fully owned by Baylina. Despite this new venture, Jordi Baylina will continue his association with Polygon as a co-founder and advisor. This spin-off is part of a broader strategic shift at the Polygon Foundation, which also includes a leadership change with co-founder Sandeep Nailwal assuming the role of CEO. In his new capacity, Nailwal will steer the foundation towards prioritizing the Polygon Proof-of-Stake (PoS) chain. The new strategy will further emphasize adopting stablecoin payments, real-world assets (RWAs), and the AggLayer cross-chain aggregator, aiming to streamline operations and enhance decision-making processes. As of June 18, 20:11 UTC, market data showed POL (previously MATIC) trading at $0.185, with its 24-hour trading volume having decreased by 7.02%.