Ethereum layer2 network Blast is shutting down. Blast said the cost of keeping the network running had surpassed the revenue it generates as a layer2 and that it had no realistic way to stay afloat financially for the time being. It asked users to move their assets to the Ethereum mainnet and plans to cut the withdrawal waiting time to 24 hours. Users can withdraw via the existing interface until Oct. 26.

Real-world asset tokenisation platform Ondo Finance has launched an offchain execution network called Ondo Network, moving away from plans for an institution-focused layer1 blockchain. Cointelegraph reported that the network processes transactions outside public blockchains and has been applied to the perpetual futures platform Ondo Perps. It runs trading software inside a protected enclave, while operators verify software integrity and share custody of digital keys used to approve transfers.