Syndicate to Cease Operations Amid Rollup Market Shift

Syndicate, a DAO infrastructure service provider, has announced plans to gradually cease operations. According to Foresight News, the company cited a fundamental shift in the Rollup market after five years of building on-chain developer infrastructure. The Rollup market has significantly contracted, with many Rollups quietly shutting down, and the focus has shifted from EVM Rollups to custom chains built from scratch by consulting teams, resulting in low reusability of technology and network value. Syndicate consists of two parts: Syndicate Labs, the development company, is closing, while Syndicate Network Collective, a Wyoming DUNA holding SYND tokens with governance rights, remains an independent entity. The governance of SYND will not be affected in the short term. The decision to cease operations is unrelated to recent cross-chain events, and affected users and SYND holders have been fully compensated through treasury reserves. Tokens held by the team and investors remain locked, with no short-term profits.