Zerion announced on Thursday that Zero Network, an Ethereum Layer 2 network focused on gas-free transactions, will shut down after 1.5 years of operation.
We are gradually winding down ZERϴ Network. The Zero team stated: “We will double down on [Zerion’s] API and wallet.” wrote on the social media platform X. Zero Network was initially launched in November 2024.
The team stated that they built Zero to create the first EVM-compatible, completely gas-free Rollup service, simplifying the user experience and enabling mainstream adoption. While the team says this vision remains valid, maintaining an independent blockchain is not the right path to achieve it.
“The best approach is to concentrate our resources on the people who use our product every day, as this will have the greatest impact,” the team said.
The announcement assures users of the safety of their assets and instructs them to transfer all NFTs, ETH, or other tokens off the Zero network by the end of July. Currently, transferring tokens to the Zero network has been suspended.
Zerion, founded in 2016, operates Zerion Wallet, a self-custody crypto wallet accessible via mobile and web browser extensions.
Relax
Meanwhile, Zero has joined the list of crypto protocols that announced closures over the past two days.
Earlier today, the cross-chain infrastructure startup Everclear announced that it will shut down all its operations, including its core user interface, protocol, foundation, and research lab. On Wednesday, Ethereum infrastructure provider Syndicate Labs and the crypto card game Fantasy.top simultaneously announced they would cease operations.
Multiple protocols indicate that unfavorable market conditions were the primary reason for ceasing operations.