BLAST IS SHUTTING DOWN. USERS ARE BEING ASKED TO WITHDRAW THEIR FUNDS #Blast, the #Ethereum Layer 2 launched in February 2024, is shutting down after more than two years. The project was known for native yield on ETH and stablecoins, along with its Points/Gold incentive system. The reason is straightforward: the cost of maintaining the network has become higher than its revenue, and the team says there is no realistic path to making Blast economically sustainable. What users need to know: • Withdrawals are temporarily paused for about a week while Blast exits assets from Lido. • After withdrawals resume, there will be a 24-hour delay. • Standard withdrawals through the interface will be available until October 26. • After that, funds will still be accessible, but users will need to interact directly with the Blast Bridge contracts on Ethereum L1. The bigger takeaway: attracting users through incentives and yield doesn’t guarantee that an L2 can become a sustainable business. Blast couldn’t make the economics work. Another Ethereum L2 shutting down. Who’s next?