Botanix to Wind Down Bitcoin L2, Sets July 9, 2026 Withdrawal Deadline

Botanix said it will wind down its Bitcoin layer-two network after four years, with mainnet operations expected to stop this summer. Users have until July 9, 2026 to withdraw bitcoin and other assets from Spiderchain, after which remaining balances will be swept by the federation and become unrecoverable. The team cited insufficient fee income versus infrastructure costs and a market shift toward more convenient, centralized venues.