Cardano’s ZK-Rollups Scaling Solution Orbis Labs Comes To A Halt
Orbis Labs, which is developing Layer 2 ZK-Rollups on Cardano, stated that the project had been suspended owing to a lack of finance and a lack of certainty. NFT operations have been suspended till further notice. Orbis stated that...
Orbis Labs, which is developing Layer 2 ZK-Rollups on Cardano, stated that the project had been suspended owing to a lack of finance and a lack of certainty. NFT operations have been suspended till further notice.
Orbis stated that it was now formulating a long-term plan for the project. The Orbis Labs Github organization will continue to be open source and accepting of outside contributions for the time being.
Hey all of
Unfortunately due to constrained funding and uncertain conditions, Orbis Labs is unable to continue building and the project as come to a halt. This is unfortunate given the amazoing research and work that has been produced.
The project shared that because of the limitation in capital coming from investors, has resulted in this result.
This was an unexpected result due to committed investors very recently pulling out of the project and recent events in the crypto space which affected Orbis directly.
— Orbis (@orbisproject) November 24, 2022In addition, the project’s community group is also suspended.
The community groups have been halted until further notice.
— Orbis (@orbisproject) November 24, 2022DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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