Syndicate Labs Winds Down as Rollup Market Contracts

Syndicate Labs said it is winding down after five years, citing a shrinking rollup market and a shift toward custom-built chains. Co-founder Will Papper said the company explored a rollup-as-a-service pivot but found its framework no longer matched what clients want. Syndicate Labs said the closure is unrelated to a recent exploit that led to losses of about 18.5 million SYND tokens, and said affected holders on Commons Chain were made whole from treasury reserves.
SYND-2.69%
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