Sophon Mainnet Shutdown: Withdraw by Nov. 25
Sophon plans to permanently shut down its Ethereum Layer 2 mainnet on Nov. 30, after raising more than $70 million. Users should withdraw SOPH, ETH, USDC and other assets by Nov. 25, and follow official guidance to claim eligible staking or Guardian rewards and handle farm assets. Assets left on Sophon Chain after its infrastructure and websites close may become inaccessible. New deposits have been disabled since June 25, 2026.
Sophon said in June it would shift from running its own chain to building consumer finance and AI applications on Base. It cited about $3.4 million in annual infrastructure and tooling costs, with the closure expected to save roughly $3 million a year. Activity has also collapsed: DeFiLlama data show total value locked at about $16,500, down from a peak of roughly $20.1 million in May 2025, while fees, revenue and active addresses were at zero.
The Sophon shutdown follows Abstract’s planned Dec. 15 closure and adds to pressure on Layer 2 and appchain projects to prove sustainable revenue. The immediate risk is concentrated in SOPH, where the closure could weigh on demand and liquidity and prompt selling; broader market effects are likely limited. Traders should check exchange support and complete withdrawals before the deadline.
Bearish
The impact is bearish for SOPH because the project is ending its standalone network, a development that can weaken confidence in the token’s ongoing utility and ecosystem. The Nov. 25 withdrawal deadline may prompt holders to move or sell assets, while the shutdown of infrastructure could reduce access and liquidity. These pressures may increase short-term volatility and selling, particularly if exchange support changes or users rush to exit. Longer term, SOPH faces uncertainty as Sophon shifts its focus to applications on Base; any recovery would depend on whether those products create sustained demand for the token. The broader crypto market impact is likely limited, as the news is specific to Sophon.