Bitcoin L2 project Botanix has officially announced its closure. Please withdraw all BTC and other assets by July 9, 2026. After the deadline, recovery will be permanently impossible. The team stated they'd rather exit gracefully than forcefully keep going. The founder publicly reviewed the reasons for failure on X: 1. Timing wasn’t right—the market still views Bitcoin as a reserve asset, not an application platform. 2. Insufficient demand—users prefer WBTC on Ethereum L2, where convenience outweighs decentralization. 3. Financially unsustainable—transaction fees from low-frequency storage users couldn’t cover infrastructure costs. 4. Additionally, costs kept rising as traffic concentrated on CEXs and TradFi, making it increasingly difficult for the core team to maintain operations.