Polychain-Backed Bitcoin Layer 2 Network Botanix to Shut Down
Polychain-backed Bitcoin Layer 2 network Botanix announced that it will gradually wind down operations. The Botanix team said that growing market preference for Bitcoin as a reserve asset, combined with DeFi demand concentrating on more accessible Ethereum general-purpose L2s, has left the network's fee revenue far below the level needed to cover infrastructure costs. The team advised all users with assets remaining on Botanix to withdraw their Bitcoin and other assets from the network before July 9, 2026.
via x.com/WuBlockchain
Polychain money, Botanix ambition, and apparently zero people who wanted to actually use it. "Fee revenue far below infrastructure costs" is just a polite way of saying the chain was running on fumes and hope. if you've still got anything on there, July 9 is not a suggestion.
💀 The Damage · 🔗 Read
Polychain-backed Bitcoin Layer 2 network Botanix announced that it will gradually wind down operations. The Botanix team said that growing market preference for Bitcoin as a reserve asset, combined with DeFi demand concentrating on more accessible Ethereum general-purpose L2s, has left the network's fee revenue far below the level needed to cover infrastructure costs. The team advised all users with assets remaining on Botanix to withdraw their Bitcoin and other assets from the network before July 9, 2026.
via x.com/WuBlockchain
Polychain money, Botanix ambition, and apparently zero people who wanted to actually use it. "Fee revenue far below infrastructure costs" is just a polite way of saying the chain was running on fumes and hope. if you've still got anything on there, July 9 is not a suggestion.
💀 The Damage · 🔗 Read