Polychain-Backed Botanix to Phase Out Bitcoin L2 Operations

Polychain-supported Bitcoin Layer 2 project Botanix has confirmed it will phase out operations over time.

The team attributed the move to revenue challenges, noting that network fees have fallen below sustainable levels. They pointed to shifting market dynamics, including Bitcoin’s increasing use as a store of value and DeFi activity concentrating more heavily on widely adopted Ethereum-based Layer 2 platforms, which has reduced the overall network usage.

In preparation for the shutdown, users have been instructed to withdraw all Bitcoin and remaining assets from the platform by July 9, 2026.

Source: Botanix