Silicon Network Shutdown Deadline Dec 31 for $9.75M Assets
Silicon Network ends Sept. 2 with $9.75M TVL; users have until Dec. 31 to withdraw before chain termination leaves assets unrecoverable.
Silicon Network stopped new deposits and ended its network on Sept. 2, opening a withdrawal window that closes on Dec. 31. After that date the chain and its explorer will shut down.
The protocol stated that it operates as a non-custodial service, so custody and withdrawal remain the responsibility of each user. Assets left on the chain after termination cannot be recovered.
L2Beat data placed total value locked at approximately $9.75 million, with the largest positions in $2.66 million USDC, $2.54 million WBTC, $2.08 million ETH and $1.85 million USDT.
Bridged assets from Ethereum can return through the standard withdrawal process during the window. Tokens issued directly on Silicon have no direct bridge and must rely on whatever liquidity remains in the network.
Korbit Web3 Wallet, which ran on Silicon, is also being discontinued.
Unknowns
The exact split between bridged and native holdings is not disclosed. Liquidity depth for native tokens during the wind-down has not been quantified, and no official reason for the shutdown has been provided.