- The Public Goods Network L2 solution team has announced the gradual discontinuation of their project.
- The blockchain supported by the Gitcoin platform will no longer be in operation as of June 2024.
- The main Public Goods Network was launched in July 2023.
The team behind the Public Goods Network (PGN) L2 blockchain has announced that they are winding down the project, with all operations coming to a halt by June 2024.
Last summer, the PGN project was introduced by the Gitcoin platform. It was a blockchain that utilized a centralized sequencer for batch data processing.
Part of the funds generated through PGN’s activities were intended for the creation of parks and libraries, as well as the development of Open Source solutions.
The team cited issues with user migration to the network and operating costs surpassing their budget as reasons for closing the project.
It is worth noting that we previously reported on the Gitcoin platform’s accidental loss of around $460,000.