Gitcoin-backed Public Items Community, a Layer 2 resolution on Ethereum, is winding down all operations throughout the subsequent six months — focusing on an entire shutdown by mid-2024.
“After an intensive evaluation, it has determined to wind down PGN over the following 6 months – tentatively closing in June 2024,” the challenge acknowledged.
The transfer marks a major pivot for the community, which was initially launched final 12 months as an appchain to enrich Gitcoin’s current operations round public items and developer funding.
The challenge 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 finances.
“Encouraging folks emigrate with out the comfort of a scaled community was difficult, and the assets wanted to help this have been out of scope with PGN’s finances,” the crew famous on X.
A collaborative effort between Gitcoin and Conduit, PGN was designed to function as a low-cost Layer 2 resolution on Ethereum. It was developed utilizing OP Stack – a software program software from the builders of OP Mainnet. It joined a roster of Layer 2 initiatives, together with the Coinbase-backed Base, Zora, and BNB Chain, primarily based on OP Stack.
