Router Protocol will shut down all remaining operations by September 30 after failing to find a buyer, licensing deal, or sustainable business model. The cross-chain infrastructure project, which raised over $4 million in 2021 from investors including Coinbase Ventures, blamed compressed bridge fees against fixed operating costs for undermining its economics. Its transaction volume had plummeted to roughly $677 in 24-hour bridge volume in early September, while ROUTE’s market capitalization stood at approximately $56,600. Token holders face different withdrawal deadlines depending on their exchange, while developers using Router’s API, app, or widget infrastructure must migrate their projects before the protocol disappears. Router plans to burn 303.3 million ROUTE tokens from its treasury, representing about 30% of the token’s nearly 1 billion supply, and open-source selected technology components.
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