Blast Announces Shutdown Due to Unsustainable Economics
- Blast will shut down its Layer 2 network on Oct. 26, citing operating costs exceeding revenue.
- Users can withdraw assets through Blast’s interface until the shutdown date.
- The mainnet launched on Feb. 29, aiming to create a self-sustaining chain for users and developers.
- Withdrawals associated with Lido will be temporarily unavailable during the initial week of the shutdown process.
- After Oct. 26, users must interact directly with Blast Bridge contracts on Ethereum for withdrawals.
The Blast team expressed regret over the decision, emphasizing their priority is ensuring safe asset withdrawals for users during the shutdown phase.
With operations ceasing due to unsustainable economics, users are encouraged to transfer funds to Ethereum before the Oct.26 deadline for standard withdrawals.(Source)
