Router Protocol Shuts Down Amid Unsustainable Operations

Router Protocol, a cross-chain infrastructure project backed by Coinbase Ventures, has announced its closure. The team stated that they have tried various approaches to commercialize their services, including authorization and acquisition negotiations, but failed to achieve sustainable operations.

The protocol aims to reduce the cost of cross-chain asset transfers, which is considered one of its core challenges. As the industry shifts towards fewer networks and standardized infrastructure, Router's services are no longer in demand.

As part of their closure, Router will negotiate with centralized exchanges to stop supporting the ROUTE token. The team also revealed that they had raised $4.1 million from investors including Coinbase Ventures and Polygon in 2021, but were unable to sustain operations.