Bitcoin L2 network Botanix announces network shutdown; users must withdraw all assets by July 9

Bitcoin L2 network Botanix has decided to shut down. Botanix urges community users to withdraw Bitcoin and other assets before July 9, 2026. After July 9, the alliance will sweep remaining Bitcoin; any other assets or tokens on the network will be irrecoverable.

Botanix revealed that it had originally planned to eventually launch a token, but over the past year, the overall performance of the token offering failed to achieve the results expected by the model. Additionally, structural and economic factors, including the demand for Bitcoin in DeFi, the consolidation of on-chain economic activity towards platforms that possess user relationships, and the inability of network fee revenue to cover infrastructure costs, jointly led to the cessation of this experiment.