Blast shuts down L2: The economic model is unsustainable and users must withdraw their assets before October 26

Odaily Planet Daily News Blast announced on the The project apologized to users and developers who have used Blast, developed on it and supported the ecosystem, and stated that the current priority is to ensure that the shutdown process is as smooth and safe as possible.

Blast requires all users to withdraw assets to the Ethereum mainnet, including balances held in the Blast PWA. In order to lower the withdrawal threshold for users, the project team plans to shorten the withdrawal waiting time to 24 hours. However, after the shutdown process is initiated, Blast will first process the withdrawal of its Lido assets. This process is expected to take about a week, during which users will temporarily be unable to withdraw assets, even if the withdrawal waiting time has been shortened.

Once the Lido asset withdrawal process is complete, Blast will resume withdrawal functionality with a 24-hour withdrawal wait time. Users can withdraw assets through the Blast regular interface until October 26, 2026; after October 26, assets can still be withdrawn, but users need to interact directly with the Blast Bridge contract deployed on Ethereum L1, and the project will release detailed operation guidelines beforehand. Blast strongly recommends users to complete asset withdrawals before October 26.