Sophon closes its own Layer 2 and migrates to Base, shifting focus to consumer application development

Odaily Planet Daily News: Sophon, which has raised a total of $70 million in funding, announced that it will shut down its own Layer 2 blockchain and migrate to Base, with future focus shifting to consumer-grade application development. Sophon stated that continuing to invest millions of dollars annually to maintain its own chain is no longer justifiable.

Sophon co-founder Sebastien stated that the project's judgment is that the true value does not lie in "who runs the underlying rails," but in the products built on top of them. Therefore, Sophon will no longer maintain infrastructure and will instead concentrate resources on the application layer.

It is reported that Sophon previously spent approximately $3.4 million annually to maintain its blockchain, covering expenditures on chain infrastructure, RaaS, data, analysis, and development tools. After shutting down its own chain, it is expected to reduce annual consumption by about $3 million, thereby extending the cash runway and allocating more capital to application development.