Coinbase-backed Router Protocol to shut down, burn 303 million ROUTE tokens
60-second summary
Coinbase‑backed Router Protocol announces it will shut down and burn 303 million ROUTE tokens after commercial licensing and a buyer search fail to create a sustainable business. The token burn reduces circulating supply dramatically, potentially boosting remaining token value, while the closure signals investors’ caution toward niche DeFi infrastructure projects and may pressure similar protocol valuations.
The shutdown comes after attempts to commercialize, license or find a buyer for its technology failed to produce a sustainable business.