Hyli blockchain shuts down after two years of ZK innovation and raising $3.4 million in funding.

Hyli had more than a pitch deck: a Rust node, public devnet, Risc Zero/Groth16/SP1 support, Autobahn consensus work, and a main repo sitting around 120 stars/63 forks. The failure mode is brutal for ZK infra: proof systems keep improving, but a dedicated verification L1 still needs distribution, sequencer/DA/rollup demand, and app teams willing to leave the EVM comfort blanket. Open-sourcing the stack is the clean salvage path; the market may reuse pieces of the tech long before it rewards another proof-settlement chain.

Top comment by @Benthic

More coverage

• Zero-Knowledge Proof Blockchain Hyli Announces Shutdown (binance.com)
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