Overview
- Blur announced on Oct. 12 that it will disable its https://blur.io website frontend on Nov. 12 while keeping its Ethereum smart contracts live and retaining BLUR token governance over the fee switch.
- The company said Blend, its peer-to-peer NFT lending service, will stop matching new loans on Nov. 12 and told borrowers they must repay outstanding loans or allow them to default, with a promised post-deadline withdrawal tool.
- Markets reacted immediately: BLUR’s price fell about 29% and 24-hour trading volume spiked to roughly $42.6 million as investors sold following the closure notice.
- The move follows a multi-year collapse in activity at Blur, with monthly trading volume down more than 99.5% from its March 2023 peak to under $7 million by March 2026 and Token Terminal reporting zero protocol revenue over three years.
- Blur warned users to trust only its official X account for instructions to avoid impersonator scams and echoed the recent shutdown plan for Blast, raising broader questions about the financial sustainability of incentive-driven crypto projects.