The Gitcoin-backed Public Goods Network, a faster way to use Ethereum, will stop all its activities in the next six months and plans to completely close by mid-2024.
The project has decided to gradually close PGN over the next 6 months and plans to close in June 2024.
The network is changing direction which is a big deal for them. They started as an appchain last year to help Gitcoin with public goods and developer funding.
The project had to shut down PGN for a few reasons. It was hard to move users to the network and the costs were too high.
The team said it was hard to encourage people to move without a good network to help them, and the money needed to support this was too much for PGN’s budget.
Gitcoin and Conduit worked together to create PGN, which is a cheap way to make Ethereum work better. It was made using OP Stack, which is a software tool created by the same people who made OP Mainnet. It became part of a group of Layer 2 projects such as Base, Zora, and BNB Chain, which are based on OP Stack and supported by Coinbase.