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Project Overview
Sophon is an entertainment-focused ecosystem built as a modular rollup leveraging zkSync’s ZK Stack technology. As a ZK chain leveraging the ZK Stack, Sophon is intended to be tailored for any high throughput applications such as artificial intelligence and gaming.
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Sophon shuts down its own Layer 2 and migrates to Base, pivoting to consumer application development
Sophon, which has raised a total of $70 million, announced it will shut down its own Layer 2 blockchain and migrate to Base, shifting its focus to consumer-grade application development. Sophon stated that spending millions of dollars annually to maintain its own chain is no longer justifiable.Sebastien, co-founder of Sophon, said the project's assessment is that the real value lies not in "who runs the underlying rails," but in the products built on top of them. Therefore, Sophon will no longer maintain the infrastructure and will instead concentrate resources on the application layer.According to reports, Sophon previously spent approximately $3.4 million per year to maintain its blockchain, covering expenditures on chain infrastructure, RaaS, data, analytics, and development tools. After shutting down its own chain, it is expected to reduce around $3 million in annual spending, thereby extending its cash runway and allocating more capital to application development.
Binance to Delist Spot Trading Pairs Including ATOM/FDUSD, AXS/BTC, CELO/BTC, and GAS/BTC
According to the official announcement, based on recent review results, Binance will delist the following spot trading pairs and suspend trading for them: May 15, 2026, at 11:00 AM (UTC+8): ATOM/FDUSD, AXS/BTC, CELO/BTC, GAS/BTC, MANTA/FDUSD, PYTH/BTC, SANTOS/BTC, SIGN/FDUSD, SOPH/FDUSD, XVS/BNB, and XVS/BTC.
Coinbase Suspends Trading of 25 Perpetual Contracts and Completes Auto-Settlement
According to an official announcement, Coinbase has suspended trading of 25 perpetual contracts, as previously announced. All outstanding positions in these contracts have been automatically settled at the final settlement price. The affected contracts include TRB, RARE, NEIRO, A, ME, XTZ, KMNO, RAY, STX, ENS, GMT, SNX, 1000FLOKI, 0G, ORDI, NIL, BIO, UMA, BEAM, INIT, SOMI, EGLD, CLANKER, SOPH, and BIGTIME. The final settlement price was calculated as the average index price over the 60 minutes preceding the suspension. Coinbase stated that this action aims to focus on products that consistently meet liquidity and market quality standards, and that it will accelerate the launch of new perpetual contracts by optimizing internal processes.