Router Protocol to shut down project, burn 30% of ROUTE token max supply

Router Protocol, a cross-chain infrastructure company backed by Coinbase Ventures, announced it will officially shut down the project. The team said the decision came after various attempts, including commercialization, technology licensing and a search for a buyer, failed to produce a sustainable business model. As part of the shutdown, the team added it plans to burn 30% of the ROUTE token’s total maximum supply.