Sophon has set a Nov. 25 deadline for users to withdraw their assets ahead of its planned mainnet shutdown, following a June announcement that it would abandon its Ethereum layer-2 blockchain
Sophon has set a Nov. 25 deadline for users to withdraw their assets ahead of its planned mainnet shutdown, following a June announcement that it would abandon its Ethereum layer-2 blockchain and move operations to Base.
Sophon said Monday it will begin shutting down key infrastructure and related websites on Nov. 25, and any assets left on the Sophon Chain risk becoming permanently inaccessible.
The team has asked users to withdraw any Sophon (SOPH), Ether (ETH), USDC (USDC) and other assets, and claim any outstanding staking or Guardian rewards.
Sophon launched as a zero-knowledge-powered layer-2 network focused on consumer applications, including gaming, entertainment and AI. In June, its developers said the costs of maintaining a standalone blockchain no longer justified its benefits and announced plans to focus on consumer finance and AI applications on Base.
The shutdown follows a similar announcement from Abstract, the consumer-focused Ethereum layer-2 network developed by Pudgy Penguins’ parent company, Igloo. Abstract announced on Oct. 6 that it would close on Dec. 15, after Igloo lost tens of millions of dollars supporting the network.
Cointelegraph previously reported that Sophon raised $60 million through a node sale in 2024, following a separate $10 million funding round.
Related: Pudgy Penguins-backed Abstract to shut down after ‘tens of millions’ in losses
