Blast shuts down $20M layer-2 network, forcing Oct. 26 exit deadline
Summary
Ethereum layer-2 network Blast will shut down, saying its operating costs exceed its earnings and it sees no credible path to economic sustainability. Users are asked to move assets to Ethereum mainnet by Oct. 26 using Blast’s interface. Withdrawals will pause for about a week while Blast withdraws assets from Lido, then resume with a 24-hour delay. After the deadline, funds will remain accessible through direct interaction with bridge contracts; Blast says it will provide instructions. The shutdown follows nearly three years after the project announced $20 million in funding and launched its yield-focused rollup.
