Coverage of Blast's Ethereum layer-2 shutdown agrees on the Oct. 26 withdrawal deadline but diverges on how much value remains in the network, with a $20M headline figure conflicting with a $65M total-value-locked figure reported in the body text.
What all sources agree on
- Blast is shutting down its Ethereum layer 2 after determining that running the network costs more than it earns.
- Users must withdraw assets to Ethereum mainnet, including balances held through the Blast PWA, by Oct. 26 using the normal interface.
- Withdrawals will be temporarily suspended for about one week while the team unwinds Blast's Lido positions.
- After the Lido unwind, the withdrawal delay will be reduced to 24 hours.
- After Oct. 26, assets remain recoverable but require direct interaction with Blast's bridge contracts on Ethereum.
- Blast was founded by Blur creator Tieshun Roquerre (Pacman) and attracted more than $2 billion in deposits before its February 2024 mainnet launch.
- The team said it saw 'no credible path' to making the chain economically sustainable and apologized to users and developers.
Where the reports disagree
1The current value of the Blast network
Blast shuts down $20M layer-2 network
CryptoSlate
Blast currently holds roughly $65 million in total value locked
What would settle it: A current on-chain TVL reading for Blast (e.g., via DefiLlama) or Blast's own disclosed figures at the time of the shutdown announcement.
What to make of it
Treat the shutdown date and withdrawal mechanics as established across reports; treat any single dollar figure for Blast's current network value as unconfirmed until checked against a live TVL source like DefiLlama.
Treat the shutdown date and withdrawal mechanics as established across reports; treat any single dollar figure for Blast's current network value as unconfirmed until checked against a live TVL source like DefiLlama.