Sophon shutters L2 chain after failing to find product-market fit, shifts focus to app studio and Base deployments
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Promote with Leviathan NewsDeFiLlama has Sophon TVL at about $294k, down from a ~$20.1m May 2025 high; keeping a dedicated ZK Stack chain alive for that base is treasury theater. The sharper move is stripping SOPH of gas/staking utility, moving the LayerZero OFT adapter to Ethereum, and kicking off a 46.5m+ burn while Pyre tries to fund future buybacks from interchange, vault fees, and stablecoin reserve yield. For the ZKsync Elastic Chain crowd, Base is the uncomfortable scoreboard: apps want shared liquidity and distribution more than sovereignty once subsidies wear off.
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