Blast Layer-2 Project Closes Down Amid Unsustainable Costs

Blast, once one of the most talked-about layer-2 projects in the Ethereum ecosystem, has decided to cease operations. According to its team, the network's maintenance and operating costs exceeded its revenue, making the current economic structure unsustainable.

The project team stated that users should migrate their on-chain assets and PWA balances from Blast to the Ethereum mainnet as soon as possible. The withdrawal waittime was reduced to 24 hours as part of the closing process.

However, withdrawals are temporarily unavailable while the team completes the withdrawal of Lido assets held on Blast, a phase expected to last approximately one week.