The Bitcoin L2 network Botanix will gradually shut down, and users need to withdraw their assets before July 9

The Bitcoin Layer2 network Botanix announced that it will gradually shut down, and users need to withdraw Bitcoin and other assets before July 9. The team summarized several lessons: the current market demand for Bitcoin programmability is not yet mature; token issuance strategies generally perform poorly; most DeFi users prefer the WBTC solution on Ethereum; on-chain economics is concentrating towards centralized platforms like Hyperliquid and Robinhood; users mainly use Bitcoin for value storage rather than high-frequency trading, making it difficult for network fee revenue to cover infrastructure costs.

Botanix stated that rather than continuing to invest without generating new insights, it is better to stop while there are still resources. After July 9, the remaining Bitcoin will be uniformly reclaimed by the validators of the Botanix network's Federation, and other assets will be unrecoverable.