Blast and Abstract Shutdowns Test Ethereum Layer 2 Sustainability

Blast and Abstract are winding down their Ethereum Layer 2 networks, showing that activity and capital have not guaranteed sustainable businesses for some rollups as lower data costs pressure revenue across smaller networks. Blast announced Oct. 2 that it would shut down because maintaining the network cost more than the revenue it generated. Users can move assets to Ethereum through Blast’s interface until Oct. 26. After that date, withdrawals will require direct interaction with bridge contracts. Abstract, an Ethereum Layer 2 developed by Igloo Inc. and associated with Pudgy Penguins, announced Oct. 6 that it will cease operations Dec. 15.

Source: TokenPost