Syndicate Labs announced a phased shutdown, stating "the rollup market has fundamentally shifted."

Syndicate announced on X that Syndicate Labs is gradually shutting down. After five years of building on-chain developer infrastructure, the team made this necessary decision due to a fundamental shift in the Rollup market. Syndicate stated that the Rollup market has significantly shrunk, with more Rollups quietly shutting down for every new one that emerges. The market has moved away from their technological direction, and EVM Rollups are no longer the standard. Syndicate consists of two entities: the development company Syndicate Labs and the Syndicate Network Collective, which holds the governance rights for the SYND token. The latter is independent of Syndicate Labs, so the SYND governance will not be immediately affected. The team clarified that the shutdown decision is unrelated to recent cross-chain bridge attacks. Affected customers and all SYND holders on Commons Chain have been fully compensated from treasury reserves. Team members and investors are still in their lock-up periods, and no associated individuals can unlock their allocations early. All code is open-source and permanently available.