#botanix Tech News.
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The latest botanix news, distilled by AI into sharp ~100-word summaries. ByteBrief tracks botanix across dozens of tech sources and brings you only what matters, updated hourly. Tap any story for the full brief, or open the original source.
Botanix will shut down its Bitcoin layer-2 network in July. The company cited a lack of DeFi demand as the reason for the closure. The network failed to attract sufficient user activity and liquidity to sustain operations.
Bitcoin layer-2 network Botanix is winding down a year after mainnet launch. The project raised $14.4 million but had only $119,500 in total value locked at closure. Botanix stated, "It did not work," citing market conditions and user indifference toward Bitcoin DeFi.
Botanix is winding down its Bitcoin scaling network after four years, telling users to withdraw assets by July 9 or lose them. The Spiderchain developer cited insufficient demand for Bitcoin-native DeFi, noting most users treat Bitcoin as a reserve asset rather than for onchain applications.
Botanix is winding down its Bitcoin Layer 2 network and urging users to withdraw their assets. The project is shutting down operations, requiring all participants to move funds off the platform. Users should act promptly to secure their holdings before the network ceases functionality.
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