Router Protocol Shuts Down Amid Market Shifts

Router Protocol is shutting down after four years of operation, effective September 30. According to the team, weak liquidity across Web3, a shift in attention towards AI projects, cheaper cross-chain transaction fees elsewhere, and high operating costs have made it no longer viable to continue.

The project's foundation will burn 303,333,198 ROUTE tokens, removing them from circulation forever. The team is working with centralized exchanges to remove ROUTE trading pairs and advises holders to withdraw their tokens before the exchange's deadline.

Routine Protocol was a cross-chain infrastructure project that helped move digital assets between different blockchains. Despite raising venture capital funding, it failed to generate enough revenue to sustain itself due to decreasing transaction volume and fees.