Nilion to shut down its proprietary layer-two network

Nilion, which shifted to an Ethereum layer-two architecture this year, announced on its official X account that it plans to end operations of its proprietary layer-two network. The company said, “Layer 2 will soon cease operations. If you hold NIL or ETH on the network, please use the bridge to move your assets to Ethereum layer one before the shutdown.” Nilion had transitioned from Nilchain, its proprietary Cosmos-based layer-one network, to Ethereum layer two in January this year. According to CoinMarketCap, NIL was trading at $0.0866, up 14.39%, at the time of writing.

Source: Coinness