Polygon (MATIC) Labs Head of DeFi Jumps Ship, Joins Berachain
Polygon (MATIC) Labs Head of DeFi Jack Melnick moves to Cosmos-based Berachain.
• Last week, Polygon (MATIC) Labs Head of DeFi Jack Melnick disclosed that he was leaving the firm. • Melnick has now disclosed a new role at the Cosmos-based Berachain. • Despite the move, Melnick has asserted that he maintains a positive outlook on Polygon. • Another Polygon (MATIC) Labs executive has jumped ship.
In recent months, the project has weathered an onslaught of key executive exits to competing projects, from its president in November 2023 to its head of business development in January 2024. Now, the firm’s former head of DeFi, Jack Melnick, has followed suit after announcing that he was leaving last week.
Melnick Announces New Role In an X post on Monday, May 13, Melnick disclosed that he was starting his first day as head of DeFi at Berachain: a Cosmos-based EVM compatible project that tries to address liquidity concerns that can arise from the Proof-of-Stake (PoS) model through a novel consensus model dubbed Proof-of-Liquidity (PoL).