Bitcoin Layer-2 Network Botanix to Shut Down, Users Asked to Withdraw Assets by July 9, 2026

Bitcoin Layer-2 network Botanix said it will shut down and urged community users to withdraw their bitcoin and other assets by July 9, 2026. According to Odaily, Botanix said that after July 9, the federation will sweep remaining bitcoin, and any other assets or tokens left on the network will not be recoverable. Botanix said it had planned to eventually launch a token, but token issuance performance over the past year did not produce results consistent with its expected model. It also cited structural and economic factors behind ending the experiment, including demand for DeFi on bitcoin, a shift of on-chain economic activity toward venues with user relationships, and network fee revenue that did not cover infrastructure costs.