Router Protocol winds down, will burn 303M ROUTE tokens
The Coinbase Ventures-backed cross-chain bridge had four years and a $4.1M raise but could not escape thinning bridge economics and capital's flight toward AI.
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The Coinbase Ventures-backed cross-chain bridge had four years and a $4.1M raise but could not escape thinning bridge economics and capital's flight toward AI.
Coinbase Ventures-backed Router posted a $677 day in bridge volume against a $56,600 market cap; the post-mortem calls bridging economics structurally inverted, a read that applies to most of the…
Deal count is the surface read; the heavier signal is that Coinbase, Animoca, a16z and Tether all stayed aggressive while late-stage capital pulled back, keeping the early-stage pipeline alive.
Animoca's 19, a16z's 18 and Tether's 15 round out the top tier, painting a picture of venture activity concentrating inside a few repeat backers rather than dispersing across the field.