Sophon Shuts Down Its Own Layer 2 and Migrates to Base, Shifts Focus to Consumer App Development

According to ME News, on June 26 (UTC+8), Sophon, which has raised a total of $70 million in funding, announced it will shut down its proprietary Layer 2 blockchain and migrate to Base, shifting its future focus toward consumer-grade application development. Sophon stated that continuing to spend millions of dollars annually to maintain its own chain is no longer justifiable. Sebastien, co-founder of Sophon, said the project’s assessment is that true value lies not in “who runs the underlying infrastructure,” but in the products built on top of it. Therefore, Sophon will no longer maintain its infrastructure and will instead concentrate its resources on the application layer. It is reported that Sophon previously spent approximately $3.4 million annually on blockchain maintenance, covering expenses for chain infrastructure, RaaS, data, analytics, and development tools. After shutting down its proprietary chain, the company expects to reduce annual expenditures by about $3 million, extending its funding runway and allocating more capital toward application development. (Source: ODAILY)