Botanix Will Shut Down Bitcoin Layer-2 Network in July, Citing Lack of DeFi Demand

In brief

• Botanix disclosed plans to wind down its Bitcoin-based layer-2 network, asking users to withdraw funds.
• The project said it didn’t achieve significant product market fit, while generating lackluster fees.
• Botanix Labs raised $8.5 million in 2024, a round that saw participation from…