Router Protocol to Shut Down and Burn 303 Million ROUTE Tokens

The Router Protocol, a project backed by Coinbase, announced that it will cease operations and burn 303 million of its native ROUTE tokens. The decision follows a series of attempts to commercialize the technology, license it to third parties, and find a buyer, none of which resulted in a viable business model.

Reason for Shutdown

Efforts to generate revenue through commercial partnerships, licensing agreements, or a sale of the protocol’s assets did not produce a sustainable outcome, prompting the shutdown.

Token Burn Details

As part of the closure plan, 303 million ROUTE tokens will be permanently removed from circulation.