【Layer 2 Network Blast Announces It Is Shutting Down Operations, Assets Must Be Withdrawn by October 26】
Layer 2 Network Blast has officially announced that it is stopping operations. The official statement notes that the ongoing costs required to keep the network running have exceeded the revenue it generates, and the team has determined that there is no credible path for it to achieve economically sustainable operations.
Blast advises all users to withdraw their on-chain assets and any balances in the Blast PWA to the Ethereum mainnet as soon as possible. To support this process, the team plans to shorten the withdrawal waiting time to 24 hours. Please note that the team will prioritize exiting Lido assets held by Blast, a process expected to take about a week; during this period, the withdrawal feature will be temporarily unavailable.
Users can complete withdrawals through Blast’s regular interface before October 26. After this deadline, assets can still be withdrawn, but users will need to interact directly with the Blast Bridge contract on Ethereum L1. The team commits to publishing specific instructions before the cutoff date. This event directly affects expectations for ETH liquidity pathways and the stability of the Layer 2 ecosystem.
Layer 2 Network Blast has officially announced that it is stopping operations. The official statement notes that the ongoing costs required to keep the network running have exceeded the revenue it generates, and the team has determined that there is no credible path for it to achieve economically sustainable operations.
Blast advises all users to withdraw their on-chain assets and any balances in the Blast PWA to the Ethereum mainnet as soon as possible. To support this process, the team plans to shorten the withdrawal waiting time to 24 hours. Please note that the team will prioritize exiting Lido assets held by Blast, a process expected to take about a week; during this period, the withdrawal feature will be temporarily unavailable.
Users can complete withdrawals through Blast’s regular interface before October 26. After this deadline, assets can still be withdrawn, but users will need to interact directly with the Blast Bridge contract on Ethereum L1. The team commits to publishing specific instructions before the cutoff date. This event directly affects expectations for ETH liquidity pathways and the stability of the Layer 2 ecosystem.