TechFlow reports that Milkomeda, a Layer 2 protocol in the Algorand ecosystem designed to bring EVM functionality to non-EVM compatible blockchains, has announced on Twitter the shutdown of its Milkomeda A1 (Algorand) validator by the end of May 2024, due to insufficient fees to cover validator operating costs. Milkomeda urges users holding funds on A1 within the next six months to transfer their assets.
Milkomeda remains optimistic about Milkomeda C1 (Cardano), believing it has the potential for independent and sustainable development by generating sufficient revenue through transactions and delegation to maintain network operations.
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