Gitcoin-backed Public Items Community, a Layer 2 answer on Ethereum, is winding down all operations inside the subsequent six months — focusing on a whole shutdown by mid-2024.
“After a radical evaluation, it has determined to wind down PGN over the following 6 months – tentatively closing in June 2024,” the mission said.
The transfer marks a big pivot for the community, which was initially launched final 12 months as an appchain to enhance Gitcoin’s current operations round public items and developer funding.
The mission cited a number of causes for the choice to wind down PGN, together with challenges in migrating customers to the community and operational prices past its price range.
“Encouraging individuals emigrate with out the comfort of a scaled community was difficult, and the sources wanted to assist this have been out of scope with PGN’s price range,” the workforce famous on X.
A collaborative effort between Gitcoin and Conduit, PGN was designed to function as a low-cost Layer 2 answer on Ethereum. It was developed utilizing OP Stack – a software program instrument from the builders of OP Mainnet. It joined a roster of Layer 2 tasks, together with the Coinbase-backed Base, Zora, and BNB Chain, primarily based on OP Stack.