Silicon Network is shutting down with nearly $9.75 million still on-chain, requiring users to withdraw their assets by December 31 when the network and explorer will disappear permanently. Assets originally bridged from Ethereum can return to the mainnet, while directly issued tokens depend on dwindling internal liquidity that may make recovery difficult or impossible. The network states it is non-custodial and has no obligation to redeem assets users fail to move before termination. The closure highlights consolidation pressures in Ethereum’s layer 2 market, where Coinbase-backed Base and Arbitrum now control over 80% of the roughly $30.5 billion locked across L2 networks.
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