Sophon sets Nov. 25 withdrawal deadline ahead of mainnet shutdown

Sophon has acceptable a Nov. 25 deadline for users to retreat their assets up of its planned mainnet shutdown, pursuing a June announcement that it would wantonness its Ethereum layer-2 blockchain and determination operations to Base.

Sophon said Monday it volition statesman shutting down cardinal infrastructure and related websites connected Nov. 25, and immoderate assets near connected the Sophon Chain hazard becoming permanently inaccessible.

The squad has asked users to retreat immoderate Sophon (SOPH), Ether (ETH), USDC (USDC) and different assets, and assertion immoderate outstanding staking oregon Guardian rewards.

Sophon launched arsenic a zero-knowledge-powered layer-2 web focused connected user applications, including gaming, amusement and AI. In June, its developers said the costs of maintaining a standalone blockchain nary longer justified its benefits and announced plans to absorption connected user concern and AI applications connected Base.

The shutdown follows a akin announcement from Abstract, the consumer-focused Ethereum layer-2 web developed by Pudgy Penguins’ genitor company, Igloo. Abstract announced connected Oct. 6 that it would adjacent connected Dec. 15, aft Igloo mislaid tens of millions of dollars supporting the network.

Cointelegraph antecedently reported that Sophon raised $60 million done a node merchantability successful 2024, pursuing a abstracted $10 cardinal backing round.

Related: Pudgy Penguins-backed Abstract to unopen down aft ‘tens of millions’ successful losses