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Liquidity restaking protocol Ether.fi (ETHFI) said layer-two network Blast is shutting down and advised weETH holders to withdraw assets by Oct. 26.
According to Ether.fi, Blast decided to end operations as the chain’s operating costs exceeded revenue generated on the L2 and no economically sustainable path was visible. As part of the shutdown process, withdrawals of Blast’s Lido assets will be handled first and are expected to take about one week. During that period, withdrawals will be temporarily suspended. Once that process is complete, withdrawals will resume with the delay reduced to 24 hours. Asset withdrawals will still be possible after Oct. 26, but users will need to access Blast’s bridge contract on Ethereum L1 directly.