The MilkyWay project, backed by Binance Labs (now YZi Labs), has officially shut down its Layer-1 network due to financial pressure. The team has completed a final chain upgrade to return all digital assets to their original blockchains. Despite the closure, MilkyWay is taking steps to compensate its community by retaining a 10% share of liquid staking fees. The project will distribute USDC stablecoins to eligible snapshot holders on a pro-rata basis.