Blast Shuts Down L2: Economic Model Unsustainable, Users Must Withdraw Assets Before October 26

Odaily: Blast announced on X that it will gradually shut down its L2 network. The project stated that its original goal was to build a network capable of long-term operation through its own economic model, serving users and developers. However, the ongoing cost of maintaining Blast now exceeds the revenue generated by the L2, and the team sees no credible path to economic sustainability at this time, leading to the decision to terminate Blast's operations. The team apologized to users and developers who had used Blast, built on it, and supported the ecosystem, and stated that the top priority now is to ensure the shutdown process is as smooth and safe as possible.

Blast has asked all users to withdraw their assets to Ethereum mainnet, including balances held in the Blast PWA. To lower the barrier for withdrawals, the team plans to reduce the withdrawal waiting time to 24 hours. However, once the shutdown process begins, Blast will first process the exit of its Lido assets, which is expected to take about a week. During this period, even though the withdrawal waiting time has been shortened, users will temporarily be unable to withdraw assets.

After the Lido asset exit process is completed, Blast will restore withdrawal functionality with a 24-hour withdrawal waiting time. Users can withdraw assets through Blast's regular interface until October 26, 2026. After October 26, assets can still be withdrawn, but users will need to interact directly with the Blast Bridge contract deployed on Ethereum L1. The team will publish a detailed operation guide beforehand. Blast strongly recommends that users complete their asset withdrawals before October 26.