An L2 that had $200B+ peak value locked up—did it shut itself down after complaining?
10/2 Blast’s official post: Maintenance costs exceed revenue. They can’t see a sustainable path, so they decided to shut down the chain. Users first need to withdraw assets back to the Ethereum mainnet. Regular withdrawals are only enabled until 10/26; in the meantime, they still need to offload Lido first, which will likely pause withdrawals for about a week.
Locked value dropped from its peak to over $30M. Next to it, Ethereum perps on a single day see over $2B in trading, with little change in price. L2 volume doesn’t convert into fairness—pretty heartbreaking.
Do you think this is a one-off case, or are there more chains to follow? Come argue in the comments.
10/2 Blast’s official post: Maintenance costs exceed revenue. They can’t see a sustainable path, so they decided to shut down the chain. Users first need to withdraw assets back to the Ethereum mainnet. Regular withdrawals are only enabled until 10/26; in the meantime, they still need to offload Lido first, which will likely pause withdrawals for about a week.
Locked value dropped from its peak to over $30M. Next to it, Ethereum perps on a single day see over $2B in trading, with little change in price. L2 volume doesn’t convert into fairness—pretty heartbreaking.
Do you think this is a one-off case, or are there more chains to follow? Come argue in the comments.
