Silicon Stops New Bridge Deposits and Begins Shutdown Process

Ethereum Layer 2 network Silicon said it stopped accepting new bridge deposits on September 2 and has begun a shutdown process. According to ChainCatcher, users must withdraw all assets by December 31, when the network and block explorer will go offline and any remaining assets will no longer be recoverable. About $9.75 million in on-chain assets remain, including USDC, WBTC, ETH, and USDT. Assets bridged from Ethereum mainnet can be withdrawn directly during the window period, but tokens issued directly on Silicon cannot be bridged out and must rely on remaining on-chain liquidity for swaps, which may become harder as the shutdown progresses. Silicon's Web3 wallet will also be discontinued.