🚨 BREAKING: Polychain-backed Bitcoin L2 Botanix announces shutdown, citing unsustainable economics. Users must withdraw all assets by July 9. The team said fee revenue fell far below infrastructure costs as DeFi demand concentrated on Ethereum L2s and Bitcoin shifted toward reserve-asset use cases. Official announcement: https://x.com/botanix/status/2064420116578590941 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: A VC-backed BTC L2 winding down is a clear signal on the state of Bitcoin DeFi — capital and developers are flowing to Ethereum L2s while BTC-native DeFi struggles to find product-market fit. The July 9 deadline is the actionable item for anyone with funds on Botanix. For traders, this reinforces the rotation away from BTC L2 infrastructure plays. Track real-time signals & trade → https://hupzy.com/trending source: WuBlockchain(Hupzy (Spot On Chain))