Blast Layer 2 to Shut Down After Costs Outpace Revenue, Sets Oct. 26 Withdrawal Deadline
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· body · New information from a source
Ethereum layer 2 Blast is shutting down after costs exceeded revenue, according to The Block.Users have until Oct. 26 to withdraw funds through the app interface; approximately $63.5 million remains in Blast's canonical bridge.Contract-based withdrawals will continue after that deadline.- Blast, a Paradigm-backed Ethereum layer-2 network, is shutting down after its operating costs exceeded revenue, according to The Block.
- The Defiant reports that about $63.5 million remains in Blast's canonical bridge, and users have until Oct. 26 to withdraw funds through the network's normal interface.
- Contract-based withdrawals will continue to be available after that date, per The Defiant.
- Cointelegraph notes that Blast was once among Ethereum's largest layer-2 networks by total value locked, and the team is now urging remaining users to move their assets to Ethereum mainnet ahead of the shutdown.
- The Block and The Defiant both cite rising costs relative to revenue as the reason for the wind-down, though neither outlet detailed the specific cost drivers or revenue figures behind the decision.
- The shutdown marks an end for a network that had drawn significant attention and capital during Ethereum's layer-2 expansion.
· summary · New information from a source
Blast, a Paradigm-backed Ethereum layer 2, is winding down after operating costs outpaced revenue.- Ethereum layer-2 network Blast is winding down after operating costs exceeded revenue, giving users until Oct. 26 to withdraw roughly $63.5 million still held in its bridge.
· headline · New information from a source
Blast Layer 2 to shut down, citing costs exceeding revenue- Blast Layer 2 to Shut Down After Costs Outpace Revenue, Sets Oct. 26 Withdrawal Deadline
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Blast, a Paradigm-backed Ethereum layer-2 network, is shutting down after its operating costs exceeded revenue, according to The Block. The Defiant reports that about About $63.5 million remains in Blast’s canonical bridge.
remains in Blast’s canonical bridge, and users have until Oct. 26 to withdraw funds through the network’s normal interface. Contract-based withdrawals will continue to be available after that date, per The Defiant.
Cointelegraph notes that Blast was once among Ethereum’s largest layer-2 networks by total value locked, and the team is now urging remaining users to move their assets to Ethereum mainnet ahead of the shutdown. The Block and The Defiant both cite rising costs relative to revenue as the reason for the wind-down, though neither outlet detailed the specific cost drivers or revenue figures behind the decision.
The shutdown marks an end for a network that had drawn significant attention and capital during Ethereum’s layer-2 expansion. With withdrawals time-limited through the standard app interface, affected users face a deadline to retrieve funds before relying on the slower, contract-based exit path described by The Defiant.
Sources: The Defiant, The Block, Cointelegraph
This article is for information only and is not financial advice.
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Story so far 2 updates
- digestBlast Layer 2 to shut down, citing costs exceeding revenuefirst reported · 2 sourcesthedefiant.io · theblock.co
- storyBlast Layer 2 to Shut Down After Costs Outpace Revenue, Sets Oct. 26 Withdrawal Deadlineupdate · 3 sourcesthedefiant.io · theblock.co · cointelegraph.com
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