Botanix Shuts Down as Bitcoin Defi Demand Falls Short

Botanix Shuts Down as Bitcoin Defi Demand Falls Short

Botanix, a Bitcoin scaling network that set out to bring “real utility” to BTC without token incentives, is winding down after four years in operation. In a Tuesday post on X, Botanix told users to withdraw all Bitcoin and other assets by July 9, after which remaining assets will be swept and “be unrecoverable.” The decision comes despite integrations with major crypto infrastructure providers, including Chainlink, Fireblocks and Galaxy, and the…

Botanix Pulls Plug on Bitcoin L2 After 4 Years as Fee Income Falls Short – #CryptoUpdatesGNIT

Key Takeaways Bitcoin L2 network Botanix is winding down all operations after a 4-year effort to build on the blockchain.The team notes the crypto market favors centralized venues like Hyperliquid over decentralized L2 structures.Users must withdraw bitcoin and other digital assets from the Spiderchain network before July 9, 2026. The Playbook Botanix Refused to Follow Bitcoin layer-two ( L2) network Botanix has announced it is winding down oper…

Botanix winds down after questioning long-term demand for Bitcoin L2s

Botanix said its technology worked, but users still preferred wrapped Bitcoin and larger ecosystems over dedicated Bitcoin-native infrastructure.

Botanix Shuts Down Bitcoin L2 Spiderchain After Four Years

Botanix Labs is winding down its Spiderchain Bitcoin Layer 2, giving users until July 9 to withdraw all assets before the network goes dark. The Polychain-backed project cited insufficient demand for Bitcoin-native DeFi as the reason it could not sustain itself economically. In a post on X Tuesday,... Read the full story at The Defiant

Botanix shuts down Bitcoin Layer 2 after four-year push into Bitcoin DeFi

Botanix Labs has announced the shutdown of its Bitcoin Layer 2 network after reporting 25 million transactions and 200,000 wallets during its year-long mainnet operation. The team said user demand was not sufficient to sustain the network economically. In a…