๐ฐ Syndicate Labs โ a16z-backed startup announces its closure after 5 years of operation.
โ According to the Syndicate Labs team, the Rollup market has drastically changed in both structure and scale, significantly diminishing the demand for Rollup infrastructure/dev tooling.
๐ This news is seen as a signal that VC funding is gradually pulling back from the Rollup-as-a-Service narrative, especially as many L2 infrastructure projects are struggling with adoption and actual revenue. Previously, this project raised $27M ๐ฑ
โ ๏ธ Even though Syndicate doesn't have a tradable token, this is still unfortunate news; any project can shut down, even if it was once backed by top-tier funds.
๐ What do you think?
$BTC $ETH $BNB
โ According to the Syndicate Labs team, the Rollup market has drastically changed in both structure and scale, significantly diminishing the demand for Rollup infrastructure/dev tooling.
๐ This news is seen as a signal that VC funding is gradually pulling back from the Rollup-as-a-Service narrative, especially as many L2 infrastructure projects are struggling with adoption and actual revenue. Previously, this project raised $27M ๐ฑ
โ ๏ธ Even though Syndicate doesn't have a tradable token, this is still unfortunate news; any project can shut down, even if it was once backed by top-tier funds.
๐ What do you think?
$BTC $ETH $BNB