In brief
Syndicate Labs, a crypto infrastructure project, said it is winding down after five years.
The closure follows shutdowns across NFT, DeFi, and wallet projects this year, alongside cuts across the broader tech sector.
Consolidation has pushed users and liquidity to larger networks, Decrypt was told.
Syndicate Labs, a crypto infrastructure project that helped developers build on-chain communities, investment clubs, and rollup-based apps, said it is winding down after five years as the market shifted away from its core business.The rollup infrastructure business no longer fit a market increasingly split between broad platform providers and bespoke chain development, according to a tweet from the company on Wednesday.
