Powerloom network shuts down July 21, users have 24 hours to bridge POWER
In brief
- Powerloom halts permanently July 21 at 6:00 AM UTC after founders concluded the project lacked sustainable demand and resources.
- Reward claims, unstaking, and node burns closed July 16; only liquid balances can exit via Arbitrum bridge to Ethereum.
- Unclaimed rewards, staked POWER, and node-slot funds cannot be recovered; POWER held on Ethereum remains accessible.
Final exit window narrows
Reward claims, unstaking, and node burns closed when mint.powerloom.network went offline at 6:00 AM UTC on July 16. The bridge only covers balances already available for transfer on Powerloom. Unclaimed rewards, staked POWER, or node-slot funds that depended on dashboard workflows can no longer be recovered.
The chain will stop producing blocks at shutdown. Contracts and state on the network will become inaccessible. Once the source chain halts, the Arbitrum-based bridge will stop functioning because it will no longer have an operating source chain to connect to.
What survives the shutdown
Ethereum-held POWER remains separate from the shutdown and will remain accessible on-chain. Any tokens already migrated or held natively on Ethereum are unaffected by Powerloom's halt.
Why Powerloom is shutting down
In a June 15 wind-down announcement, Powerloom's founders said they had concluded that the project lacked a sustainable operating model, continued ecosystem demand, and sufficient resources. Before the wind-down, Powerloom had launched its decentralized sequencer-validator network and BDS data market.
The shutdown gives users just five weeks from announcement to execution. For those who staked or claimed rewards through the network's dashboard, the window to recover capital has already closed.
