According to a Friday statement on X, Router Protocol, a cross-chain infrastructure project backed by Coinbase Ventures, announced on Sept. 5 it will shut down all operations by Sept. 30 and permanently burn 303,333,198 ROUTE tokens from its treasury, equivalent to about 30% of the token's nearly 1 billion total supply. The team said commercialization efforts, licensing discussions, and acquisition attempts over the past year all failed to produce a sustainable business model. Router cited declining bridging demand, compressed fees against operational costs, and capital shifting toward artificial intelligence as key challenges.
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