The Cosmic Network, a blockchain-based platform focused on secure and scalable community-driven innovation, has announced its closure.
Author: Sahil Thakur
The Cosmic Network, a blockchain-based platform focused on secure and scalable community-driven innovation, has announced its closure. The decision follows a series of challenges, including a targeted FUD attack, a severe market downturn, and the departure of key team members.
In an emotional statement, the Cosmic Network founder expressed deep regret over the decision to shut down. Despite ongoing efforts to sustain the project, including spending over $1 million on buybacks and covering costs out of pocket, the current market environment made continuation financially impossible.
The founder shared that the decision was not taken lightly. The team had hoped to weather the storm, even when left with minimal resources and dwindling support. However, with the project becoming increasingly unsustainable, the closure was deemed the only viable option.
“I’ve poured my heart and soul into Cosmic Network,” the founder said. “This isn’t the outcome any of us wanted, but the reality of the situation left me with no other choice.”
Cosmic Network faced multiple setbacks that compounded over time:
Throughout the journey, the team made numerous attempts to keep the network running. Even in the final month, the founder personally financed the project, hoping for a turnaround. However, the combination of market conditions and resource depletion proved insurmountable.
Despite the closure, the founder acknowledged the strong community that formed around Cosmic Network. “Your belief, encouragement, and energy carried us further than many thought possible,” he stated, expressing gratitude to early supporters and the wider community.
To ensure fairness, the team has announced a refund process for users who purchased a Nebula Lite. In the coming days, a form will be released via the Cosmic Network Telegram chat for eligible users to claim their refund. The team is committed to processing refunds promptly as they wind down operations.
Cosmic Network aimed to be a next-generation blockchain platform, offering secure, scalable, and community-driven solutions. The network operated through a global system of user-run nodes, promising flexibility and censorship-resistant connectivity.
The platform was built to empower users with decentralized governance and high-performance infrastructure. However, despite its innovative vision, the combination of external attacks, market challenges, and internal resource issues led to its untimely end.
If you invested in Nebula Lite, make sure to follow Cosmic Network’s Telegram updates to claim your refund. The closure of the platform highlights the volatility and risk inherent in blockchain projects. Always assess the long-term viability of projects before investing.
Disclaimer: This is not financial advice (NFA). Always do your own research before making investment decisions.
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