Sophon, a blockchain project that previously operated as a zero-knowledge-powered layer-2 network focused on consumer applications, has announced a Nov. 25 deadline for users to withdraw their assets ahead of its planned mainnet shutdown. The project, which launched in 2024, has set a timeline for shutting down key infrastructure and related websites on the same date, with any assets left on the Sophon Chain at risk of becoming permanently inaccessible. Users are urged to withdraw their Sophon (SOPH), Ether (ETH), USDC, and other assets, as well as claim any outstanding staking or Guardian rewards. This follows a June announcement where developers stated that the costs of maintaining a standalone blockchain no longer justified its benefits, leading them to shift focus to consumer finance and AI applications on Base. The shutdown mirrors a similar move by Abstract, another Ethereum layer-2 network, which announced its closure after significant financial losses. Sophon had previously raised $60 million through a node sale in 2024, following a separate $10 million funding round.
The decision to shut down the mainnet comes as part of a broader trend among blockchain projects to pivot their operations to more scalable and cost-effective platforms. This shift reflects a growing emphasis on practical applications and financial viability over the maintenance of standalone blockchains. Users are advised to act promptly to avoid losing access to their assets, as the shutdown is expected to be final and irreversible.
The move by Sophon highlights the challenges faced by blockchain projects in balancing innovation with financial sustainability.