Router Protocol Shuts Down Amid Weak Liquidity and Rising Competition

Router Protocol, a cross-chain infrastructure project, announced its shutdown on September 30 after four years of operation. The decision was made due to weak liquidity in the Web3 space, shifting venture capital money towards AI startups, falling cross-chain fees, and unsustainable costs.

The company's foundation will permanently burn 303,333,198 ROUTE tokens, removing them from circulation forever. Holders must withdraw their tokens by exchange-specific deadlines as the token has collapsed more than 99% from its all-time high.

Although some underlying technology will be open-sourced, there will be no new products or continued protocol support. The team explored other options before shutting down, including licensing its technology or finding a buyer, but none were successful.