Crypto Projects Shut Down as Base Network Leaves Optimism's OP Stack Infrastructure

The crypto space is witnessing a wave of shutdowns and changes in infrastructure as several prominent players announce their departure or closure. Base Network, a platform founded by Coinbase, has left Optimism's OP Stack infrastructure, citing faster shipping, simpler architecture, and Ethereum alignment as the reasons for its decision.

This move has sparked concerns about the future of Optimism, which will lose a significant portion of revenue with Base's departure. The OP token has already taken a hit, plummeting by 30% since the news broke. However, not all is lost for Optimism, as EtherFi has announced that it will be moving to OP mainnet.

Meanwhile, several crypto projects have shut down in recent weeks, citing financial struggles or lack of liquidity. Blockchain data analytics platform Parsec and NFT-focused Nifty Gateway are among the projects that have announced their closure. ZeroLend, a 'copy-paste' fork of DeFi lending giant Aave, has also decided to wind down, citing prolonged periods of operating at a loss.

Discord's recent announcement on age verification technology has raised privacy concerns among users. The company plans to restrict users to a 'teen-appropriate' experience unless they verify their age via video selfie or uploading ID. However, this move has been met with skepticism due to the track record of identity verification services.