Search results for Botanix
Crypto
Why DeFi projects that survived the 2022 crash are closing now
DeFi projects that withstood the 2022 Terra and FTX collapses are shutting down in 2026. Cointelegraph reported analysts see tougher competition within DeFi rather than broad industry consolidation. Zapper plans to end its service in July, while Botanix, Step Finance, Parsec and Odos Protocol have closed or are winding down. Data showed 101 crypto projects shut this year through July 26, over half tied to DeFi. Fee and revenue indicators have deteriorated, while some cite weak demand and others point to continued stablecoin growth.
Crypto
Bitcoin utility boom fades? What Botanix shutdown raises for crypto
Bitcoin layer2 project Botanix has announced it will shut down, saying it did not work in the current market and at this point in time. A report said Botanix concluded efforts to make bitcoin programmable and integrated into real financial activity are not where ordinary users want them. Data show bitcoin on-chain DeFi remains far smaller than Ethereum. Developers said the shutdown does not mean bitcoin utility is dead, and argued for focusing on realistic products and existing liquidity.
Crypto
Crypto projects shut down in downturn, multichain DEX Satori Finance halts operations
Satori Finance, a multichain decentralised exchange, will shut down operations, becoming another crypto protocol to close amid a market downturn. It said on social media X that it made the decision after careful consideration and that prolonged unfavourable market conditions left it without enough profit to keep operating. Users can withdraw funds until July 16. After that, the platform will halt operations and remaining assets cannot be withdrawn.
