Sophon Sets Nov. 25 Withdrawal Deadline for Mainnet Shutdown
Sophon warns users to withdraw crypto assets before its November blockchain shutdown or risk permanent loss.
Sophon has issued a warning to users to withdraw their cryptocurrency holdings ahead of its scheduled blockchain shutdown on Nov. 25, according to Cointelegraph. Remaining assets on the network could become permanently inaccessible once the shutdown is completed.
Background and Strategy
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In June, Sophon's developers stated that the operational costs of maintaining a standalone blockchain no longer justified the benefits. As a result, the project announced plans to shift its focus toward consumer finance and artificial intelligence applications on Base.
Key facts
- Sophon scheduled its blockchain shutdown for Nov. 25.
- Users must withdraw assets before the deadline to prevent permanent inaccessibility.
- Developers previously cited maintenance costs of a standalone chain as the reason for the pivot.
- The project plans to refocus on consumer finance and AI applications on Base.
Source: cointelegraph.com
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