Blast, the Ethereum layer 2 founded by Tieshun Pacman Roquerre, is shutting down after costs outpaced revenue. The network will reduce its withdrawal delay to 24 hours, though withdrawals will be temporarily unavailable during the unwinding of Lido assets, expected to take about a week. Users will have until Oct. 26 to withdraw through Blast interface. The platform had attracted over 2 billion dollars in deposits before its mainnet launch in February 2024, but its DeFi total value locked has fallen more than 98% since peaking at roughly 2.2 billion dollars in June 2024.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
