Blast Shuts Down L2 Network Due to Unsustainable Operating Costs

Blast's Layer 2 (L2) network is shutting down due to unsustainable operating costs, which have exceeded revenue generated by the platform. This decision comes after Blast promoted unusually high yields and a distinct approach to crypto payments.

The project's original goal was to build a self-sustaining chain for users and developers. However, ongoing maintenance costs now exceed the revenue generated by the L2, making it impossible for the network to be economically sustainable.

Blast is asking users to move their assets back to Ethereum mainnet. Withdrawal delays will occur during the shutdown process, with temporary unavailability of withdrawals initially and then a delay reduced to 24 hours after completion.

A crucial deadline of October 26 marks another change for users. After this date, users will need to interact directly with Blast bridge contracts on Ethereum L1 to withdraw assets, which is strongly encouraged by the project.