Blast is Shutting Down its Operations

[AhmadM]

I'm sharing this just in case some people here aren't aware of the latest news from the Blast L2 chain.

After around 3 years in the crypto industry, the Blast team has decided to shut down operations on the Blast chain.

Blast will be shutting down.

We launched Blast with the goal of building a self-sustaining chain for users and developers. Unfortunately, the economics of operating the chain no longer make sense: the ongoing costs of maintaining Blast exceed the revenue generated by the L2, and we do not see a credible path to making the chain economically sustainable.

As a result, we've made the difficult decision to wind Blast down.

We're sorry to the users and developers who believed in Blast, built on it, and supported the ecosystem. Our priority now is making the shutdown as smooth and safe as possible.

We're asking all users to withdraw their assets from Blast to Ethereum mainnet, including any balances held in the Blast PWA.

To make this easier, we will be reducing the withdrawal delay to 24 hours.

As part of the shutdown process, we'll first begin withdrawing Blast's Lido assets. This process is expected to take approximately one week. During this period, withdrawals will temporarily be unavailable, even after the withdrawal delay is reduced to 24 hours.

Once that process is complete, withdrawals will resume with the new 24-hour delay.

Users will have until October 26, 2026 to withdraw through the normal Blast interface.

After October 26, assets will remain withdrawable, but users will need to interact directly with the Blast bridge contracts on Ethereum L1. We'll publish detailed instructions before then.

We strongly encourage everyone to withdraw their assets to Ethereum mainnet before October 26.

Based on their X post, they are struggling with the ongoing costs of Blast maintenance that exceed its revenue.

Blast team is also asking all users to move their assets to ethereum mainnet before October 26, 2026.

If you have assets on Blast, it's recommended to move/bridge it asap before too late.

[Murat]

Blaze is Shutting Down its Operations

You should correct the thread titte.

It has great potential but they decided to shut down after max extract from the community.

In this space long term builders are rewarded. but blast team probably wanted to get paid as much as possible within short term. I wonder if the blow up the company fund in memecoins or trading perps. Thus result in shutting down the project. their TVL was dropped down way too much and probably were making zero revenues. Bear Market is brutal for company's without strategy. I think we saw over 5 big companies shut down in recent months.

[$crypto$]

Subject title: should be changed to Blast, not Blaze.

As people have started to change their narrative that the L2 project is no longer profitable, especially now that ETH transaction fees are cheaper again, unlike a few years ago reaching tens of dollars once exchanging or bridging.

Blast --- the highest TVL in 2024 is 2.2 b more, after which it has decreased to now 33m TVL.
The price of the token Blast fell by 99% from ATH, indicating no progress in the project.

Network fee revenues fell dramatically, $65/$57 was unreasonable to meet operating costs, then Blast announced after his difficult situation.
https://defillama.com/chain/blast
https://coinmarketcap.com/currencies/blast/

Once Upon a time collecting points on this network to get an airdrop was just not worth it.
Once his swap / bridge fee broke $30 more at that time.

[crwth]

I have seen this chain for a while now and it does show that there are just some unlucky and miscalculated turn of events.

I'm curious to what would happen to the dApps built on Blast? I'm thinking that they would probably go and go to turn their attention in other L2s. There would probably some that could interrupt services in Blast.

What L2 network would have this outcome as well? I think it's not just about the incentives but checking the infrastructure, sequencers, security, etc. to be sustainable. I do hope that other L2s would be learning form this.
^{P.S. Additional request to change the thread title.} 

[asriloni]

So sad we have another L2 to shutdown. This proves how difficult in sustaining the blockchain in the crypto. We have plenties of dead L2 such as moonbeam, Sophon, loopring and many more. This is also showing us how copy pasta L2 is not even worthy. It has to be an awareness for any new developers not to create another l2.

Running a blockchain is costly when they can't generate sustainable revenue from there.

Beside that we also have so many zombie L1 still exist till now, but i'm sure these zombie L1 will have same fate like L2. We finally come to the era where the only blockchain with real economic activity will survive, and revenue matter a lot.

Once Upon a time collecting points on this network to get an airdrop was just not worth it.
Once his swap / bridge fee broke $30 more at that time.

No, it was still worthy it as long as you were focusing on collecting blast gold rather than point. I have farmed both gold and points in the past, and i got 4 figures from owning thousands of blast gold. People who farmed points got diluted because blast had more than 2.4b TVL at that time.

[AhmadM]

Oops, my bad. Title changed, Idk how it could become blaze instead of blast  

In this space long term builders are rewarded. but blast team probably wanted to get paid as much as possible within short term. I wonder if the blow up the company fund in memecoins or trading perps. Thus result in shutting down the project.

Another SBF? That's kinda a harsh theory, though, for shifting company funds into memecoins and perps, but who knows what actually happened behind unless an investigation occur

their TVL was dropped down way too much and probably were making zero revenues. Bear Market is brutal for company's without strategy. I think we saw over 5 big companies shut down in recent months.

I couldn't deny that, their overall TVL keeps going down day by day since the bear market began

I'm curious to what would happen to the dApps built on Blast? I'm thinking that they would probably go and go to turn their attention in other L2s. ~

What else? either they migrate to other L2 or following the footsteps of blast  

[libert19]

The number of L2s that were popping up a while back, and their usual formula of park your funds to us and earn our tokens — I never found this 'projects' having much substance and as such they are being sieved out; as they should be.

I do not discount that this projects may have made money to people though.

Bear Market is brutal for company's without strategy. I think we saw over 5 big companies shut down in recent months.

It's same thing in every bear market. I am not sure if certain projects had long term prospects to begin with or were merely cashing out on hype but otherwise as they say, 'those who don't learn from past are condemned to repeat it.'

I'm curious to what would happen to the dApps built on Blast? I'm thinking that they would probably go and go to turn their attention in other L2s.

If Blast itself had low revenue, do you think the dapps there would be having revenue to sustain themselves ? I am pretty sure most of 'em must have already packed their bags long ago. After all, it's only projects without community that die.

What L2 network would have this outcome as well? I

I ain't keeping up with crypto as of late but speaking generally, I am sure there ought to be plenty L2s winding themselves down since most, if not all were copycats (including the dapps found on these chains) with little to no substance.

Oops, my bad. Title changed, Idk how it could become blaze instead of blast  

May be keyboard's auto-correct?

PS: It's been ages since I checked Altcoin Discussion board and comments in this thread were worth to read. Well done, gentleman! This is not what I expected here.

[Dr.Bitcoin_Strange]

I saw a comment  on X (formally called Twitter) advising people to start buying Ethereum now, saying that as Blast is shutting down and investors starts to migrate their assets to Ethereum chain, that it will make ETH to pump. I know some people are going to take the advice hoping that ETH will soon start pumping meanwhile it is not even certain whether the new will have effect on Ethereum price or not, even if it does, it could just be a small short-term move that might not even sustain for days.

I just pity some of those people that is still holding the Blast native token and might not yet be aware of this information, some might realize when it's already late. As I checked the price history since the release of this information, the price has dropped by 75% already and BTSE has also delisted the token as of today. I just feel safe not investing in alt coins anymore, because assuming someone bought the token when the price was still around $0.4 which close to the ATH, hoping that it will get to $1 or more, and now it turns out that the project is winding down.

[TastyChillySauce00]

Blast going down is understandable, but we also got Abstract, a new L2 shutting down its operations https://www.theblock.co/news/ecosystems/2026-10-06-abstract-ethereum-layer-2-shutting-down-pudgy-penguins-igloo-417855.

This might be the start of great consolidation on Ethereum ecosystem from fragmented capitals across many unnecessary L2 to only very few L2 and capital consolidating back to Ethereum L1 which is going to be great. I think this is actually a good news. When L1 is already affordable and able to scale, who needs L2 anymore.

[Nightwatchmare]

I saw a comment  on X (formally called Twitter) advising people to start buying Ethereum now, saying that as Blast is shutting down and investors starts to migrate their assets to Ethereum chain, that it will make ETH to pump. I know some people are going to take the advice hoping that ETH will soon start pumping meanwhile it is not even certain whether the new will have effect on Ethereum price or not, even if it does, it could just be a small short-term move that might not even sustain for days.

I just pity some of those people that is still holding the Blast native token and might not yet be aware of this information, some might realize when it's already late. As I checked the price history since the release of this information, the price has dropped by 75% already and BTSE has also delisted the token as of today. I just feel safe not investing in alt coins anymore, because assuming someone bought the token when the price was still around $0.4 which close to the ATH, hoping that it will get to $1 or more, and now it turns out that the project is winding down.

If it is true as blast is shutting down its operations the investors of blast will start buying Ethereum, that is a big good news on the side of Ethereum and it will make the price of Ethereum to pump in a certain period of time. It is very good to always check the X page (formally known Twitter) of the token you are holding so as to know the latest news of the token you are holding. If blast team cannot send the notice of their closure to their investors through email and there are some of blast investors that are not aware of this update, it is up to them and they will be responsible for their loss because they are supposed to check blast X page (formally known Twitter) to know how blast is coping. People holding blast will start selling it once they get to know about the plan of the blast team shutting down its operations, so it is expected blast price to drop on the centralized exchanges it is currently trading.

[New Judgement]

I'm sharing this just in case some people here aren't aware of the latest news from the Blast L2 chain.

After around 3 years in the crypto industry, the Blast team has decided to shut down operations on the Blast chain.



Based on their X post, they are struggling with the ongoing costs of Blast maintenance that exceed its revenue.

Blast team is also asking all users to move their assets to ethereum mainnet before October 26, 2026.

If you have assets on Blast, it's recommended to move/bridge it asap before too late.

To be honest this is the first time I’m hearing about this Blast project. I don’t think it was a popular project. Just staying for 3 years and they are already shutting down speaks a lot about them. Good a thing they are sincere to even notified their users to remove their assets on time.

[retreat]

With so many Layer 2s popping up, sooner or later there will be more L2s that have to shut down their operations because they can't sustain themselves, and the ones that survive are those that can actually have real applications rather than just offering network speed, yields, or other perks. Especially when more users prefer big L2s like Arbitrum, Optimism, and Base – and on top of that, with gas fees dropping on Ethereum, smaller L2s will struggle to keep up their operations and won't have any option but to close down.

[AYOBA]

To be honest this is the first time I’m hearing about this Blast project. I don’t think it was a popular project. Just staying for 3 years and they are already shutting down speaks a lot about them. Good a thing they are sincere to even notified their users to remove their assets on time.

All this kind of projects are not legit and that’s why they’re not popular that will make everyone to knows about them, I don’t think they hype the coin even before he was listed. Because this is my first time I also knows about the project, from the name of this project it prove that is not a project that last for market that’s why is not popularity in the market. The project was listed and launched in 2024, that means the project only last for 3 years, this is the why not everybody knows that the project exists.

[jossiel]

To be honest this is the first time I’m hearing about this Blast project. I don’t think it was a popular project. Just staying for 3 years and they are already shutting down speaks a lot about them. Good a thing they are sincere to even notified their users to remove their assets on time.

Same.

I have never heard of this project before and what they are up to. I guess that I am not too active in looking for these projects for the past years.

And the most source that I have been using is the forum and if it's posted here, I'll get to see it. Anyway, good luck to the devs of it and everyone who has invested money on the project.

[shinratensei_]

To be honest this is the first time I’m hearing about this Blast project. I don’t think it was a popular project. Just staying for 3 years and they are already shutting down speaks a lot about them. Good a thing they are sincere to even notified their users to remove their assets on time.

Same.

I have never heard of this project before and what they are up to. I guess that I am not too active in looking for these projects for the past years.

And the most source that I have been using is the forum and if it's posted here, I'll get to see it. Anyway, good luck to the devs of it and everyone who has invested money on the project.

They're popular when staking meta and layer 2 were still hyped, remember restaking meta where you receive receipt token in exchange of ETH you staked? Blast could secure massive TVL amounting to billions because people were bullish back then, the airdrop was such a flop though and their chain has always been lacking liquidity since day one. I recall swapping my blast for stablecoin and got 20% slippage. The blockchain was initially created as a hyper-entertainment blockchain that operates like a big massive decentralized casino, but nobody actually playing besides airdrop farmer.

[cryptoaddictchie]

Blast team is also asking all users to move their assets to ethereum mainnet before October 26, 2026.

If you have assets on Blast, it's recommended to move/bridge it asap before too late.

I still remembered how hype this project on CT! Almost all of my degen friends on X are depositing funds on blast for the retro airdrop but I cant imagine a top project like them will eventually fall down and shutting down anytime soon. I know with the current market many will shutdown but I didnt expect this one will bite the dust too.