๐จ $ETH Layer-2 network #Blast is officially winding down after operating costs outpaced revenue, with the team admitting there's no โcredible pathโ to sustainability.
Here's what users need to know ๐
โณ Withdrawal deadline: October 26 via Blast's interface
๐ Withdrawal delay: Being reduced to 24 hours
โ ๏ธ Temporary disruption: Withdrawals remain unavailable while the team unwinds its Lido assets
๐ After October 26: Users will need to interact directly with Blast bridge contracts on Ethereum. Instructions are expected before the deadline.
Blast once attracted over $2B in deposits through its native yield and points program.
But its DeFi TVL has reportedly plunged more than 98% from its $2.2B peak in June 2024. #Ethereum
Here's what users need to know ๐
โณ Withdrawal deadline: October 26 via Blast's interface
๐ Withdrawal delay: Being reduced to 24 hours
โ ๏ธ Temporary disruption: Withdrawals remain unavailable while the team unwinds its Lido assets
๐ After October 26: Users will need to interact directly with Blast bridge contracts on Ethereum. Instructions are expected before the deadline.
Blast once attracted over $2B in deposits through its native yield and points program.
But its DeFi TVL has reportedly plunged more than 98% from its $2.2B peak in June 2024. #Ethereum
