Blast Shuts Down Amid Unstable Economics

Blast, a once-prominent layer-2 project in the Ethereum ecosystem, has ceased operations due to unsustainable costs.

The project team cited high maintenance and operating expenses exceeding revenue as the reason for shutting down.

Users holding on-chain assets and PWA balances on Blast have been asked to migrate them to the Ethereum mainnet.

The withdrawal process has been expedited, with the usual 24-hour waittime reduced to 24 hours.

However, withdrawals are currently unavailable as the team works to withdraw Lido assets held on Blast, a process expected to last approximately one week.

The Blast user interface will remain open until October 26th, after which withdrawals will only be possible through direct interaction with the Blast Bridge contract on Ethereum.

The team has promised to release necessary technical instructions before the deadline, advising users to check their balances and open transactions without waiting until the last day.