Ethereum Layer 2 network Blast announced on Oct. 2, 2026, that it will shut down, setting an Oct. 26 deadline for users to withdraw assets through its normal interface. The team said network maintenance costs now exceed Layer 2 revenue, leaving 'no credible path' to sustainable operations.
Users were asked to move assets to Ethereum mainnet, including any balances held in the Blast PWA. Under the shutdown plan, Blast will first withdraw Lido assets held by the network, a process expected to take approximately one week. During that period, user withdrawals will be temporarily unavailable.
The team also plans to reduce the withdrawal delay to 24 hours. However, the shorter delay will not make withdrawals available while the Lido withdrawal process is still underway. Once that process finishes, withdrawals will resume with the new 24-hour waiting period.
After Oct. 26, assets remain recoverable through direct interaction with Blast bridge contracts on Ethereum Layer 1. The team committed to publishing detailed contract withdrawal instructions before the deadline.
Blast was built by Blur founder Pacman and raised $20 million from investors including Paradigm and Standard Crypto. The shutdown is seen as a significant blow to Ethereum's Layer 2 ecosystem and may pressure user confidence in Layer 2 solutions.
