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The Bitcoin Layer2 network Botanix has announced its gradual closure, and users are required to withdraw Bitcoin and other assets before July 9th. The team summarized that there is insufficient demand for programmability in the market compared to Bitcoin, and the token issuance strategy has performed poorly. Users are more inclined towards the WBTC solution on Ethereum, and the on chain economy is centralized towards centralized platforms. Bitcoin is mainly used for value storage, and network fees are difficult to cover costs. Bitcoin that has not been withdrawn after July 9th will be collected by the Federation of validators, and other assets cannot be recovered.