Blast shuts down $20M layer-2 network, forcing Oct. 26 exit deadline

Key points

• Blast said on Oct. 2 it will shut down its Ethereum layer-2 network, citing costs exceeding earnings and no credible path to economic sustainability.
• Users were asked to withdraw assets to Ethereum mainnet by Oct. 26, after which exits require interacting directly with bridge contracts.
• Blast will first unwind Lido assets, expected to take about a week, pausing withdrawals before they resume with a 24-hour delay.

AI summary of CryptoSlate’s report, written only from the publisher’s text. Read the original for full context.