Svmuureports that the Bitcoin L2 network Botanix has decided to shut down. Botanix urges community users to withdraw their Bitcoin and other assets before July 9, 2026. After July 9, the consortium will sweep the remaining Bitcoin, and any other assets or tokens on the network will be irretrievable.
Botanix revealed that it originally planned to eventually launch a token, but the overall performance of token launches over the past year failed to meet the expected model outcomes. Additionally, structural and economic factors—including the demand for Bitcoin in DeFi, the consolidation of on-chain economics towards venues with established user relationships, and the inability of network fee revenue to cover infrastructure costs—collectively led to the termination of this experiment.