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via Decrypt · By Decrypt Editorial
Botanix Will Shut Down Bitcoin Layer-2 Network in July, Citing Lack of DeFi Demand
BTC
BTC/USDT
$63,323.64
+1.78%
$63,323.64
+1.78%
(24s)24h Volume
$15,381,804,985.02
24h H/L
$63,500.00 / $61,705.29
Change: $1,794.71 (2.91%)
Long/Short
60.8%
Long: 60.8%Short: 39.2%
Funding Rate
+0.0048%
Longs pay
Data provided by COINOTAG DATALive data
DE
Decrypt Editorial(06:11 PM UTC)
1 min read
836 views
0 commentsIn brief
- Botanix disclosed plans to wind down its Bitcoin-based layer-2 network, asking users to withdraw funds.
- The project said it didn't achieve significant product market fit, while generating lackluster fees.
- Botanix Labs raised $8.5 million in 2024, a round that saw participation from several Bitcoin influencers.
Botanix asked users to withdraw funds on Wednesday, disclosing plans to wind…
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