- Blast will shut down its Ethereum L2 as operating costs exceed network revenue.
- A roughly weeklong Lido exit will pause withdrawals before the 24-hour delay begins.
- Blast’s normal withdrawal interface closes October 26; bridge access will remain.
Blast shut down its Ethereum layer-2 network after operating costs exceeded revenue, prompting the team to ask users to move their assets to Ethereum mainnet. The announcement sets October 26, 2026, as the final day for withdrawals through the normal interface, although a Lido asset withdrawal will first interrupt access for approximately one week.
The team said it no longer sees a credible path toward economic sustainability. It also apologized to users and developers who supported the network and said its priority now involves managing the shutdown safely.
Lido Withdrawal Process Will Temporarily Halt Exits
Before users can complete their exits under the revised timetable, Blast will begin withdrawing its assets from Lido. The team expects that process to take about one week and will temporarily suspend user withdrawals during that period.
Meanwhile, Blast plans to reduce its withdrawal delay to 24 hours. However, that shorter delay will not allow users to withdraw while the Lido process remains underway.
Once the process finishes, withdrawals will resume under the new 24-hour schedule. The temporary suspension and the shorter withdrawal delay therefore act as separate stages of the shutdown. The request to move funds also covers balances held in the Blast PWA. Blast urged users to transfer their assets to Ethereum mainnet before the October deadline.
Bridge Contracts Will Remain Available After Deadline
October 26 marks the cutoff for using Blast’s normal withdrawal interface, rather than the end of access to assets. After that date, users will need to interact directly with Blast’s bridge contracts on Ethereum L1 to withdraw. The team said it would publish instructions before the interface deadline.
That change leaves users with two withdrawal routes tied to the timetable: the normal interface before the cutoff and direct contract interaction afterward.
Shutdown Follows $20 Million Funding Round
The decision comes nearly three years after Blast disclosed $20 million in funding from Paradigm and Standard Crypto on November 20, 2023. The network opened early access that November, with its mainnet launch planned for February 2024.
Blast’s documented design describes an Ethereum-compatible optimistic rollup that passes returns from ETH staking and real-world-asset protocols to users. Its website identifies Lido and MakerDAO as yield sources.
Related: CoinEx Announces Shutdown After 9 Years Amid Crypto Market Slump
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