Sophon Sets Nov. 25 Withdrawal Deadline Ahead of Planned Mainnet Shutdown

Sophon Sets Nov. 25 Withdrawal Deadline Ahead of Planned Mainnet Shutdown
Table of Contents

TL;DR

  • Sophon has set November 25 as the deadline for users to withdraw assets from its blockchain ahead of its planned mainnet shutdown.
  • Users must withdraw their SOPH, ETH, USDC, and other assets, as well as claim any outstanding staking and Guardian rewards.
  • The project will abandon its Ethereum layer-2 blockchain to develop consumer finance and artificial intelligence applications on Base.

Sophon announced that users have until November 25 to withdraw their assets ahead of its mainnet shutdown. The project will begin deactivating its infrastructure and associated websites on that date.

The team warned that funds remaining on Sophon Chain could become permanently inaccessible once the shutdown process is complete.

Users must withdraw their SOPH tokens, Ethereum (ETH), USDC, and any other assets held on the network. They must also claim any outstanding staking and Guardian rewards.

Sophon Will Abandon Its Blockchain to Move to Base

The decision to shut down the network was announced in June, when developers explained that the costs of maintaining an independent blockchain no longer justified its benefits.

Sophon initially launched as an Ethereum layer-2 solution powered by zero-knowledge (ZK) proofs, focusing on gaming, entertainment, and artificial intelligence applications.

After abandoning its own infrastructure, the project plans to develop consumer finance and artificial intelligence applications on Base, the Ethereum layer-2 network associated with Coinbase.

In 2024, the protocol raised $60 million through a node sale, following a separate $10 million funding round.

Sophon

Another Ethereum Layer-2 Network Announces Its Shutdown

Alongside Sophon, Abstract, another Ethereum layer-2 blockchain focused on consumer applications, has also announced plans to shut down.

Abstract will cease operations on December 15, according to an October 6 announcement by its developer, Igloo, the parent company of Pudgy Penguins.

Igloo reported losing tens of millions of dollars maintaining Abstract’s infrastructure.

Both projects developed independent networks for consumer applications, but their teams decided to discontinue them after assessing their operating costs.

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