Botanix Labs is pulling the plug on its Bitcoin Layer 2 network, giving users until July 9 to withdraw their assets before the lights go off for good. Any non-BTC assets left on the network after that deadline will be permanently lost.
The shutdown, announced around June 10, comes roughly 11 months after Botanix’s mainnet launched on July 1, 2025. The core problem: not enough people showed up, and the fees they generated weren’t enough to keep the project alive.
What happened to Botanix
Botanix was built as an EVM-compatible proof-of-stake network sitting on top of Bitcoin. The pitch was compelling on paper: bring Ethereum-style smart contracts and DeFi to Bitcoin’s massive capital base, complete with five-second block times and decentralized governance.
The project used a novel architecture called “spiderchain” technology, designed to enhance Bitcoin’s programmability while preserving its security properties. It launched with 16 node operators, a roster that included heavy hitters like Galaxy, Fireblocks, Alchemy, and Antpool.
