Paradigm-backed Layer 2 Blast to wind down network as costs exceed revenue
- Published
Blast said it will wind down its Ethereum layer-2 network and set Oct. 26 as the deadline for users to move assets out. The shutdown notice says the network’s operating or maintenance costs now exceed the revenue it generates.
Key claims & sources
What it means
Users of Blast notice this immediately because the network has a withdrawal deadline in place now, with Oct. 26 set as the last day to move assets out. That affects anyone holding assets on Blast, since the route described is to move them to Ethereum mainnet or withdraw through the app.
In practice, the network is moving from normal operation to wind-down mode, and asset movement to Ethereum mainnet is the action that remains available before the deadline. What does not change in the notice is that Blast is still describing the network as one whose maintenance costs exceed what it earns, so the shutdown announcement is paired with the same operating picture.
Market reaction i
Coverage timeline
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