SOPHON TO SHUT DOWN MAINNET AFTER RAISING APPROXIMATELY $70 MILLION
Sophon ($SOPH) is expected to shut down its mainnet on November 30, 2026. Users are advised to withdraw their SOPH, ETH, and USDC, and claim their rewards before November 25, ahead of the infrastructure and website beginning to shut down.
Key details:
Funding: Approximately $10 million from investment funds and $60 million from node sales; Binance Labs also invested previously, but the amount was not disclosed.
DeFi TVL: Only around $14,800 as of October 20, down more than 99.9% from its peak of $20.1 million.
Network activity: Network fees and the number of active addresses over 24 hours were recorded at 0.
New direction: The team is shifting to developing consumer finance and AI applications on Base, and plans to use the revenue to buy back and burn SOPH.
The mainnet shutdown does not mean the SOPH token will disappear. However, the buyback and token burn plan still needs to be monitored to see whether it can be implemented in practice.
Users holding assets on Sophon should prioritize withdrawing them before the announced deadline.
$SOPH
Sophon ($SOPH) is expected to shut down its mainnet on November 30, 2026. Users are advised to withdraw their SOPH, ETH, and USDC, and claim their rewards before November 25, ahead of the infrastructure and website beginning to shut down.
Key details:
Funding: Approximately $10 million from investment funds and $60 million from node sales; Binance Labs also invested previously, but the amount was not disclosed.
DeFi TVL: Only around $14,800 as of October 20, down more than 99.9% from its peak of $20.1 million.
Network activity: Network fees and the number of active addresses over 24 hours were recorded at 0.
New direction: The team is shifting to developing consumer finance and AI applications on Base, and plans to use the revenue to buy back and burn SOPH.
The mainnet shutdown does not mean the SOPH token will disappear. However, the buyback and token burn plan still needs to be monitored to see whether it can be implemented in practice.
Users holding assets on Sophon should prioritize withdrawing them before the announced deadline.
$SOPH