2024

Everclear

Zero

<p>Zero Network, a Layer 2 platform aiming to eliminate transaction fees within the <a href="https://en.coin-turk.com/crypto-market-faces-intense-sell-off-pressure/" rel="noopener noreferrer nofollow">Ethereum</a> ecosystem, has announced it will shut down after about 18 months of operation. Launched by Zerion, an established blockchain company since 2016, the network is urging all users holding assets to transfer their ETH, ERC-20 tokens, and NFTs to other networks no later than July 31, 2026.</p>
<h2 id="shutdown-timeline-and-user-roadmap">Shutdown timeline and user roadmap</h2>
<p>Zero Network was launched in November 2024 as an EVM-compatible Layer 2 solution, distinguished by its fully fee-free transactions. The platform was developed to reduce on-chain transfer costs and simplify the user experience. However, Zerion has decided to end the network’s independent blockchain operations, citing misalignment with its long-term strategic goals.</p>
<p>Following this decision, all investments on Zero Network—including ETH, NFTs, and other tokens—will remain accessible so users can safely transfer their assets. However, no new investments will be accepted and users can no longer send tokens, NFTs, or ETH via the network. Zerion has assured that users will retain full access to their assets until the network shuts down, and technical support will remain available for transfers during this transition.</p>
<h2 id="zerion-s-new-direction-and-industry-challenges">Zerion’s new direction and industry challenges</h2>
<p>Zerion, the company behind Zero Network, is best known for its self-custody wallet available on both mobile and desktop browsers. Zero Network was originally created to speed up blockchain adoption by streamlining transactions. The company noted, however, that running an independent blockchain had consumed significant resources, limiting their ability to develop Zerion’s primary wallet offering and key APIs.</p>
<p>The closure of Zero Network brings to mind other recent market exits by infrastructure providers, such as Everclear and Syndicate Labs, both of which have also wound down operations. This reflects the increasing challenges and shrinking margins for sustaining Layer 2 solutions and infrastructure projects in the competitive crypto sector.</p>
<p>Mini glossary: Layer 2 refers to secondary blockchain technology built on top of an existing chain such as Ethereum, designed to boost transaction capacity and lower network fees. These solutions aim to ease congestion and enhance user experience.</p>
<p>Looking ahead, Zerion plans to redirect its resources to wallet services, API development, and new integration partnerships. The company believes this pivot will lead to more sustainable and efficient offerings for its global user base.</p>
<h2 id="essential-user-notice-and-withdrawal-deadline">Essential user notice and withdrawal deadline</h2>
<p>Users with assets remaining on Zero Network must withdraw their tokens and NFTs before the announced deadline. Transfers can be executed through the Zerion Wallet app or compatible bridging services. Failure to move assets by the closure date will result in permanent loss of access.</p>
<p>The network will remain operational for withdrawals and transfers until July 31, 2026. Zerion has committed to providing thorough documentation and full technical support throughout the process to facilitate orderly asset migration.</p>
<blockquote>
 <p>In its announcement, Zero Network emphasized that to prevent any loss, every user must transfer their holdings to other blockchains securely before July 2026, and should verify destination addresses before proceeding.</p>
</blockquote>
<p>Zero Network’s closure highlights the sustainability challenges facing independent Layer 2 networks and the mounting pressures of competition within the crypto industry. As Zerion shifts focus back to its main wallet products, the company says it is committed to rolling out fresh, innovative services built on experience gained through this Layer 2 initiative.</p>
<p>The post <a href="https://en.coin-turk.com/zero-network-will-close-by-july-2026-users-must-withdraw-assets/" rel="noopener noreferrer nofollow">Zero Network will close by July 2026, users must withdraw assets</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Zero Network will close by July 2026, users must withdraw assets

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