Botanix, a Bitcoin layer-2 network, is winding down operations after about four years. Multiple reports say the project has asked users to withdraw their assets before a stated deadline in July. Botanix cites weak fee revenue and limited demand for DeFi activity on the network as key reasons for the closure.
Both outlets describe the shutdown as a planned process rather than an abrupt disruption. The network’s operator urges participants to move funds off the platform in advance, giving users time to retrieve their holdings before the layer-2 stops functioning. The Block specifies a withdrawal deadline of July 9, while Decrypt also characterizes the closure as occurring in July.
Overall, the reporting is consistent that Botanix is ending the service due to insufficient economic sustainability, and it is communicating with users to withdraw funds prior to the network winding down.
