Router Protocol to shut down and burn 303M ROUTE tokens after failing to find a buyer
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6 Articles
Router Protocol calls it quits, leaving 303M tokens to burn
Router Protocol, an infrastructure firm focused on cross-chain solutions backed by Coinbase Ventures, will shut down all of its operations by September 30. Its team announced in a Friday post on X that they will burn the 303,333,198 ROUTE tokens from its treasury. ROUTE token holders found themselves hanging in the middle of the major...
Router Protocol to Shut Down and Burn 303M ROUTE Tokens by September 30
Router Protocol is shutting down its remaining cross-chain infrastructure after more than four years of development, ending a project that raised funding from Coinbase Ventures, Polygon and other major crypto investors. All operations will wind down by September 30, while 303,333,198 ROUTE held in the project treasury will be permanently burned. Centralized exchanges will separately… Continue reading Router Protocol to Shut Down and Burn 303M RO…
ChainCatcher reports that Router Protocol, a cross-chain infrastructure project backed by Coinbase Ventures, has announced it will shut down all operations by September 30th and plans to permanently burn 303,333,198 ROUTE tokens held in its treasury, representing approximately 30% of the token's total supply of nearly 1 billion. In a statement released on X, the team stated that it had attempted commercialization, licensing, and acquisition nego…
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Cryptocurrency News | Cryptocurrency Prices | Market CapRouter Protocol to shut down and burn 303M ROUTE tokens after failing to find a buyer
Router Protocol's shutdown highlights the unsustainable economics of cross-chain bridging, emphasizing the need for viable financial models.
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