Over Foundation announces it will cease operations of Over Protocol

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Mars Finance news. The Over Foundation said in a post that, due to financial constraints, the foundation has stopped operating all Over Protocol infrastructure and services, including OverWallet, OverNode, OverFlex, RPC nodes, block explorers, and related APIs, and there are no recovery plans. Over Protocol is a Layer 1 mainnet; although it was designed to be decentralized, with the foundation ceasing services, the chain is very likely unable to continue operating in practice. Block production will depend on whether independent validators continue running the open-source client, and the foundation cannot provide any guarantee. The foundation said the project’s original intention was to allow ordinary users to participate in building the Layer 1 network, and thanked the community for its support, while also regretting its inability to continue driving it forward.

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