The new Rollup's onboarding speed can't keep up with the death speed; this description is too accurate.

CryptoWorld News reports that Syndicate Labs has announced it will shut down its operations due to the weakness of the Ethereum Rollup market, making the business no longer viable. The company said that the Rollup market has undergone a fundamental change: the number of Rollups newly entering the ecosystem cannot offset the steadily increasing number of project closures. According to L2Beat data, the total value of the Rollup ecosystem has fallen by about 36% from over $50 billion in October last year. Syndicate Labs also stated that the governance and management of the Synd token are independent of its own operations. The company pledged to fully compensate affected users and plans to strengthen key management and real-time monitoring.