Blast announced the shutdown of the network
Blast, an L2 network for Ethereum, has announced that it is shutting down. The team explained that the costs of maintaining it exceeded its revenues, and it no longer sees any way to make the project self-sustaining. Users are advised to withdraw funds to the main Ethereum network.
▪️ Blast was founded by Teshu(n) Rockerre, also known as Pacman, the creator of the NFT marketplace Blur. In November 2023, the project raised $20 million from investors led by Paradigm and Standard Crypto.
▪️ After the launch, a lot of hype formed around Blast—users massively deposited funds into the network and farmed points in anticipation of an airdrop, which caused TVL to surge quickly.
▪️ After the token launch and its distribution, interest in Blast faded; over time, the project began to look abandoned, even long before today’s announcement.
💱 The BLAST token price, which was already nearly 99% below its exchange listing level, after the announcement crashed
Blast, an L2 network for Ethereum, has announced that it is shutting down. The team explained that the costs of maintaining it exceeded its revenues, and it no longer sees any way to make the project self-sustaining. Users are advised to withdraw funds to the main Ethereum network.
▪️ Blast was founded by Teshu(n) Rockerre, also known as Pacman, the creator of the NFT marketplace Blur. In November 2023, the project raised $20 million from investors led by Paradigm and Standard Crypto.
▪️ After the launch, a lot of hype formed around Blast—users massively deposited funds into the network and farmed points in anticipation of an airdrop, which caused TVL to surge quickly.
▪️ After the token launch and its distribution, interest in Blast faded; over time, the project began to look abandoned, even long before today’s announcement.
💱 The BLAST token price, which was already nearly 99% below its exchange listing level, after the announcement crashed
