Blast Layer-2 Network to Shut Down Amid Unsustainable Economics

Ethereum layer-2 network Blast will shut down due to unsustainable economics. The network, which had $20 million in funding from Paradigm and Standard Crypto, was unable to generate enough revenue to justify its costs.

The shutdown was announced on October 2, with an exit deadline of October 26 for users to withdraw their assets. Blast's withdrawal process will be temporarily unavailable during the unwind, which is expected to take approximately one week.

During this time, users will need to interact directly with Blast's bridge contracts on Ethereum mainnet to access their funds. After the Lido assets are withdrawn, normal withdrawals will resume with a 24-hour delay.