Sophon sets withdrawal deadline ahead of planned mainnet shutdown
Sophon has set a Nov. 25 deadline for users to withdraw assets and claim rewards ahead of an impending mainnet shutdown, following a strategic shift away from running a standalone blockchain.
Sophon has established a Nov. 25 deadline for users to withdraw assets and claim outstanding staking, Guardian, and farm rewards ahead of its mainnet closure, according to crypto.news. The outlet reported that Sophon has set a Nov. 30 deadline to shut down its mainnet, cautioning that any funds remaining on the network after the deadline risk becoming permanently inaccessible.[2][1][3]
The decision to decommission the network follows an announcement from Sophon developers in June, when the team acknowledged that the costs of maintaining a standalone blockchain no longer justified its benefits, Coin Telegraph reported. Following that assessment, developers announced plans to refocus their efforts on consumer finance and artificial intelligence applications on Base.[1]
According to Crypto Briefing, the shutdown reflects the broader financial hurdles facing independent blockchains, which have increasingly motivated projects to leverage established networks to maintain sustainability.[3]
Key facts
- Sophon urged users to withdraw assets and claim outstanding staking, Guardian, and farm rewards by Nov. 25.
- Sophon set a Nov. 30 deadline to shut down its mainnet.
- Assets left on the network after the deadline risk becoming permanently inaccessible.
- In June, developers stated that the costs of running a standalone blockchain no longer justified the benefits.
- Sophon announced plans to focus on consumer finance and AI applications on Base.
- The closure highlights financial challenges prompting standalone blockchain projects to rely on established networks.
Sources · 3 sources
- CT
Coin TelegraphArticle ·
Sophon sets Nov. 25 withdrawal deadline ahead of mainnet shutdown In June, Sophon’s developers said the costs of maintaining a standalone blockchain no longer justified its benefits and announced plans to focus on consumer finance and AI applications on Base.
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Sophon sets November 30 deadline to shut down mainnet It is urging users to withdraw assets and claim outstanding staking, Guardian and farm rewards by November 25, as funds left on the network after the deadline risk becoming permanently inaccessible. https://t.co/pdd1BXSqwk
Open source - CB
Crypto BriefingArticle ·
Sophon sets November 25 deadline for asset withdrawals before mainnet shutdown Sophons shutdown highlights the financial challenges of standalone blockchains, pushing projects to leverage established networks for sustainability. The post Sophon sets November 25 deadline for asset withdrawals before mainnet shutdown appeared first on Crypto Briefing .
Open source