The Ethereum layer 2 network Blast is shutting down due to unsustainable operating costs. The team announced the decision on October 2, 2026, noting that the network's expenses now exceed its revenue.
Users must withdraw their assets to the Ethereum mainnet by October 26, 2026. The network is currently unwinding staked assets held through the Lido protocol, a process expected to take one week. Following this, the withdrawal delay will be reduced to 24 hours.
After the October 26 deadline, users will need to interact directly with bridge contracts on Ethereum's layer 1 to recover their funds. The network, founded by Tieshun Roquerre, launched in February 2024 and was backed by investors including Paradigm and Standard Crypto.
At its peak shortly after launch, Blast recorded a total value locked exceeding $2 billion. However, by mid-2025, the network saw a decline in TVL of more than 97%, alongside a significant drop in daily active users and developer activity.
