Botanix Labs is winding down its Bitcoin Layer 2 network after nearly four years. The team cited weak demand for Bitcoin-native DeFi, insufficient fee revenue, and user preference for WBTC on Ethereum. "It did not work - at least not in this market and not on this timeline," the team wrote.
All assets must be withdrawn before July 9, 2026 - after that, remaining funds will be unrecoverable.
