Bitcoin DeFi infrastructure project Omnity Network said on Aug. 26 that it will shut down its cross-chain bridge, Omnity Hub. Under the timeline set out by the team, all operations will end 30 days after the announcement, which puts the final shutdown date at Sept. 26. The company said the decision was driven by two pressures tied directly to the bridge business itself: revenue from the cross-chain bridge was not enough to cover security and maintenance costs, and the security pressure facing cross-chain bridges had increased. The announcement sets out both the closure of Omnity Hub and a fixed end date for the broader service operation.
Bitcoin DeFi infrastructure project Omnity Network said on Aug. 26 that it is closing its cross-chain bridge, Omnity Hub, and will cease all operations 30 days later, on Sept. 26.
The team said the shutdown was due to two factors: revenue from the cross-chain bridge could not cover security and operating costs, and security pressure on cross-chain bridges had risen.
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