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Bitcoin L2 Network Botanix Announces Network Closure, Users Must Withdraw All Assets by July 9
Odaily Planet Daily reports that the Bitcoin L2 network Botanix has decided to shut down. Botanix urges community users to withdraw Bitcoin and other assets before 2026 July 9. After 2026 July 9, the alliance will sweep the remaining Bitcoin; any other assets or tokens on the network will not be recoverable.
Botanix disclosed that it had originally planned to ultimately launch a token, but over the past year the overall performance of token issuance failed to meet the expected results of the projected model. Meanwhile, structural and economic factors—including DeFi’s demand for Bitcoin, the shift of on-chain economic activity to user-related venues, and network fee revenue being unable to cover infrastructure costs—collectively led to the termination of this experiment.