Audit log

Every state-changing event for Zero Network (Zerion L2): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-07-02 12:13:20Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 430,304,462

   sig

   3EunegXkJhMe…izr5SR1ccopyexplorer ↗

   hash

   EWoBUXxNSKqL…r65jpagQcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (18695 B) ▸

   {"actor":"system:backfill","investigation_id":"4febd78d-1f92-43e6-84bc-943ea9e9a95e","kind":"publish","page_slug":"zero-network-zerion-l2","published_at":"2026-07-02T12:13:20.646Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Zero Network (Zerion L2)","sections":[{"content":"Zero Network (stylized as ZERϴ Network) was an Ethereum Layer 2 rollup built by Zerion, a Web3 wallet company, and operated in collaboration with Caldera, a rollup-as-a-service provider. It launched on mainnet on November 12, 2024, making it the first production-ready ZK Stack rollup deployed by Caldera. The network was EVM-compatible and used ZKSync's ZK Stack technology, settling to Ethereum as its Layer 1. Its primary differentiator was eliminating gas fees for users interacting via the Zerion Wallet: a paymaster contract automatically sponsored all transaction fees, meaning users paid nothing for swaps, mints, or bridges executed through the Zerion interface. Zerion's thesis was that gas fees represent the single largest barrier to mainstream crypto adoption.","heading":"Overview and Background","severity":"low","sources":[{"credibility":2,"name":"Introducing ZERϴ Network: The First Zero-Gas ZK Stack Rollup Powered by Caldera","type":"official","url":"https://caldera.xyz/blog/introducing-zero-network"},{"credibility":2,"name":"Zerion's 'fee-free' Ethereum Layer 2 ZERO Network goes live — The Block","type":"news_article","url":"https://www.theblock.co/post/325722/zerion-zero-network-mainnet"},{"credibility":2,"name":"Crypto wallet Zerion is building a Layer 2 network that aims to offer zero fees — The Block","type":"news_article","url":"https://www.theblock.co/post/282597/crypto-wallet-zerion-is-building-a-layer-2-network-that-aims-to-offer-zero-fees"}]},{"content":"On May 21, 2026, Zerion announced via the social media platform X that Zero Network would permanently wind down. The company stated: 'We're winding down ZERϴ Network to double down on [Zerion's] API and wallet.' Inbound bridging was disabled immediately upon announcement. Users were given until July 31, 2026 to bridge all assets — ETH, tokens, and NFTs — off the network to Ethereum mainnet or any other compatible chain. The team stated that 'all assets remain safe and fully bridgeable' during the exit window. No mechanism for recovering funds after the July 31 deadline has been publicly disclosed; reporting from multiple outlets indicates assets left on-chain after that date may become permanently unretrievable once block production ceases. Zerion framed the closure as a strategic pivot, saying the company intended to focus on 'building the best wallet and data API experience in crypto, across every chain.' The team acknowledged early builders and users — naming Matter Labs and Highlight — but provided no financial compensation or token distributions as part of the wind-down.","heading":"Shutdown Announcement and Deadline","severity":"high","sources":[{"credibility":2,"name":"ZERO Network Shutting Down as Zerion Pivots to Wallet and API — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/22/zero-network-shutting-down-as-zerion-pivots-to-wallet-and-api/"},{"credibility":2,"name":"Ethereum Layer 2 Zero Network to wind down, joining string of protocols shuttering operations — The Block","type":"news_article","url":"https://www.theblock.co/post/402296/zero-network-wind-down"},{"credibility":2,"name":"Zero Network shutdown: Zerion sets July 31, 2026 cutoff — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/22/zero-network-shutdown-july-31-2026/"},{"credibility":2,"name":"Zero Network to Shut Down Ethereum Layer 2 Amid Market Pressure — BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/05/22/zero-network-to-shut-down-ethereum-layer-2-amid-market-pressure/"}]},{"content":"At the time of L2Beat's measurement, Zero Network had approximately $670,343 in total value secured. The breakdown consisted of ETH ($476,147), USDC ($124,295), USDT ($60,932), and wrapped BTC ($8,970), all canonically bridged from Ethereum L1. Earlier estimates from other reporting outlets cited figures between $1.3 million and $1.4 million, suggesting some decline in TVL in the period leading up to or following the shutdown announcement. The network's low TVL relative to competing L2 networks — L2Beat data showed three major platforms control approximately 75% of total value locked across Ethereum rollups — was cited by analysts as a key indicator of insufficient adoption to justify ongoing operational costs.","heading":"Total Value Locked and Scale","severity":"medium","sources":[{"credibility":2,"name":"ZERO Network — L2BEAT","type":"research","url":"https://l2beat.com/scaling/projects/zeronetwork"},{"credibility":2,"name":"Ethereum Layer 2 Zero Network to Shut Down After Just 18 Months of Operation — Crypto Economy","type":"news_article","url":"https://crypto-economy.com/ethereum-layer-2-zero-network-to-shut-down-after-just-18-months-of-operation/"}]},{"content":"Prior to the shutdown announcement, Zero Network experienced a significant operational failure. Block production halted entirely in late December 2025, with a documented gap in state updates running from approximately December 19, 2025 to January 15, 2026 — a period of roughly 26 days. Zerion stated it was working with infrastructure partners Caldera and ZKsync to restore operations, aiming to resume by mid-January 2026. The team asserted that user funds remained safe throughout the outage. The network did resume operations following this incident, but the extended liveness failure — which left users unable to transact or bridge funds for nearly a month — is widely cited as a contributing factor in the decision to wind down the chain. The outage was consistent with the centralization risks identified by L2Beat, which noted that only whitelisted proposers can publish state roots on L1, meaning a proposer failure freezes withdrawals.","heading":"December 2025 Block Production Outage","severity":"high","sources":[{"credibility":2,"name":"Zerion's L2 Network Zero Network Halts Block Production for Over 3 Weeks, Aims to Resume Mid-January — KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/zerion-s-l2-network-zero-network-halts-block-production-for-over-3-weeks-aims-to-resume-mid-january"},{"credibility":2,"name":"ZERO Network — L2BEAT","type":"research","url":"https://l2beat.com/scaling/projects/zeronetwork"}]},{"content":"L2Beat classified Zero Network as a Stage 0 rollup, the lowest maturity rating in its framework. Several structural risks were identified. First, the smart contracts were instantly upgradable, with no user exit window in the event of an unwanted upgrade — meaning Zerion could alter contract behavior before users had time to withdraw. Non-emergency upgrades carried a delay of approximately four days and three hours, but this did not cover emergency scenarios. Second, the network relied on a centralized sequencer; users could queue transactions directly via L1, but the operator was not obligated to include them. Third, only whitelisted proposers could publish state roots to L1, meaning that a proposer failure or censorship would freeze withdrawals entirely. The 26-day block outage in December 2025 validated this concern in practice. The paymaster model — in which Zerion subsidized all transaction gas — also created a structural financial dependency on the company's own balance sheet, with no on-chain mechanism for fee collection from users to sustain operations.","heading":"Centralization and Security Risks","severity":"high","sources":[{"credibility":2,"name":"ZERO Network — L2BEAT","type":"research","url":"https://l2beat.com/scaling/projects/zeronetwork"},{"credibility":3,"name":"What is ZERO Network? Can Subsidies Really Achieve Zero Fees? — BitKan","type":"news_article","url":"https://bitkan.com/learn/what-is-zero-network-can-subsidies-really-achieve-zero-fees-24883"}]},{"content":"As of the announcement date (May 21, 2026), Zerion maintained that all user assets were safe and accessible via the Zerion Wallet bridge interface on mobile and browser extension, or through partner bridges. Inbound deposits were immediately disabled, while outbound bridging remained functional through the July 31, 2026 deadline. Users holding assets on Zero Network — including ETH, ERC-20 tokens, and NFTs — were directed to bridge funds to Ethereum mainnet or another supported destination chain before the cutoff. Zerion urged users to complete withdrawals as soon as possible to avoid congestion near the deadline. No post-deadline recovery mechanism has been publicly disclosed. Multiple reporting outlets have noted that assets remaining on the network after July 31, 2026, when block production ceases, may become permanently inaccessible. At the time of writing (July 2026), the deadline has arrived. Users who did not withdraw in time face uncertain recourse.","heading":"Fund Recovery and Post-Deadline Risk","severity":"critical","sources":[{"credibility":2,"name":"ZERO Network Shutting Down as Zerion Pivots to Wallet and API — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/22/zero-network-shutting-down-as-zerion-pivots-to-wallet-and-api/"},{"credibility":2,"name":"Zero Network shutdown: Zerion sets July 31, 2026 cutoff — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/22/zero-network-shutdown-july-31-2026/"},{"credibility":2,"name":"Zero Network will close by July 2026, users must withdraw assets — Coin-Turk","type":"news_article","url":"https://en.coin-turk.com/zero-network-will-close-by-july-2026-users-must-withdraw-assets/"},{"credibility":2,"name":"Zero Network to Shut Down Ethereum Layer 2 Amid Market Pressure — BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/05/22/zero-network-to-shut-down-ethereum-layer-2-amid-market-pressure/"}]},{"content":"The Zero Network closure coincided with a broader wave of Layer 2 and crypto infrastructure shutdowns announced in May 2026. Everclear (a cross-chain services protocol) and Syndicate Labs (a blockchain infrastructure provider) announced wind-downs on the same day as Zero Network. Fantasy.top, an NFT platform, also shuttered concurrently. Analysts attributed this consolidation to market concentration: L2Beat data indicates that three major Layer 2 platforms — Arbitrum, Optimism, and Base — control approximately 75% of total value locked across Ethereum rollups, leaving smaller networks with insufficient developer attention, liquidity, and user activity to justify the ongoing operational burden of running independent sequencer and proposer infrastructure.","heading":"Industry Context: Layer 2 Consolidation","severity":"medium","sources":[{"credibility":2,"name":"Layer 2 Shakeout: Zero Network, Everclear, and Syndicate Labs Wind Down — MKN Crypto News","type":"news_article","url":"https://news.mkncrypto.com/layer-2-shakeout-zero-network-everclear-and-syndicate-labs-wind-down/"},{"credibility":2,"name":"Three blockchain infrastructure projects shut down on the same day as Layer 2 consolidation accelerates — CoinReporter","type":"news_article","url":"https://www.coinreporter.io/2026/05/three-blockchain-infrastructure-projects-shut-down-on-the-same-day-as-layer-2-consolidation-accelerates/"},{"credibility":2,"name":"Ethereum Layer 2 Zero Network to Cease Operations After 1.5 Years — MKN Crypto News","type":"news_article","url":"https://news.mkncrypto.com/ethereum-layer-2-zero-network-to-cease-operations-after-1-5-years/"}]}],"sources_used":[{"credibility":2,"name":"Introducing ZERϴ Network: The First Zero-Gas ZK Stack Rollup Powered by Caldera — Caldera","type":"official","url":"https://caldera.xyz/blog/introducing-zero-network"},{"credibility":2,"name":"Zerion's 'fee-free' Ethereum Layer 2 ZERO Network goes live — The Block","type":"news_article","url":"https://www.theblock.co/post/325722/zerion-zero-network-mainnet"},{"credibility":2,"name":"Crypto wallet Zerion is building a Layer 2 network that aims to offer zero fees — The Block","type":"news_article","url":"https://www.theblock.co/post/282597/crypto-wallet-zerion-is-building-a-layer-2-network-that-aims-to-offer-zero-fees"},{"credibility":2,"name":"Zerion deploys testnet for Layer 2 rollup developed using ZK Stack — The Block","type":"news_article","url":"https://www.theblock.co/post/302233/zerion-l2-testnet-zk-stack"},{"credibility":2,"name":"ZERO Network — L2BEAT","type":"research","url":"https://l2beat.com/scaling/projects/zeronetwork"},{"credibility":2,"name":"Ethereum Layer 2 Zero Network to wind down, joining string of protocols shuttering operations — The Block","type":"news_article","url":"https://www.theblock.co/post/402296/zero-network-wind-down"},{"credibility":2,"name":"ZERO Network Shutting Down as Zerion Pivots to Wallet and API — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/22/zero-network-shutting-down-as-zerion-pivots-to-wallet-and-api/"},{"credibility":2,"name":"Zero Network shutdown: Zerion sets July 31, 2026 cutoff — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/22/zero-network-shutdown-july-31-2026/"},{"credibility":2,"name":"Zero Network to Shut Down Ethereum Layer 2 Amid Market Pressure — BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/05/22/zero-network-to-shut-down-ethereum-layer-2-amid-market-pressure/"},{"credibility":2,"name":"Zerion's L2 Network Zero Network Halts Block Production for Over 3 Weeks, Aims to Resume Mid-January — KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/zerion-s-l2-network-zero-network-halts-block-production-for-over-3-weeks-aims-to-resume-mid-january"},{"credibility":2,"name":"Zerion Announces Closure of Zero Network After 1.5 Years of Operation — KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/zerion-announces-closure-of-zero-network-after-1-5-years-of-operation"},{"credibility":2,"name":"Layer 2 Shakeout: Zero Network, Everclear, and Syndicate Labs Wind Down — MKN Crypto News","type":"news_article","url":"https://news.mkncrypto.com/layer-2-shakeout-zero-network-everclear-and-syndicate-labs-wind-down/"},{"credibility":2,"name":"Three blockchain infrastructure projects shut down on the same day as Layer 2 consolidation accelerates — CoinReporter","type":"news_article","url":"https://www.coinreporter.io/2026/05/three-blockchain-infrastructure-projects-shut-down-on-the-same-day-as-layer-2-consolidation-accelerates/"},{"credibility":2,"name":"Ethereum Layer 2 Zero Network to Shut Down After Just 18 Months of Operation — Crypto Economy","type":"news_article","url":"https://crypto-economy.com/ethereum-layer-2-zero-network-to-shut-down-after-just-18-months-of-operation/"},{"credibility":2,"name":"Zero Network will close by July 2026, users must withdraw assets — Coin-Turk","type":"news_article","url":"https://en.coin-turk.com/zero-network-will-close-by-july-2026-users-must-withdraw-assets/"},{"credibility":2,"name":"Ethereum Layer 2 Zero Network to Cease Operations After 1.5 Years — MKN Crypto News","type":"news_article","url":"https://news.mkncrypto.com/ethereum-layer-2-zero-network-to-cease-operations-after-1-5-years/"},{"credibility":3,"name":"What is ZERO Network? Can Subsidies Really Achieve Zero Fees? — BitKan","type":"news_article","url":"https://bitkan.com/learn/what-is-zero-network-can-subsidies-really-achieve-zero-fees-24883"}],"summary":"Zero Network was an Ethereum Layer 2 rollup launched in November 2024 by Zerion, a crypto wallet company, offering gas-free transactions via a ZK Stack architecture deployed through Caldera's rollup-as-a-service platform. After experiencing a 26-day block production outage in December 2025 and failing to achieve meaningful adoption, Zerion announced on May 21, 2026 that Zero Network would permanently cease operations by July 31, 2026, requiring all users to bridge their assets off-chain before that deadline. Approximately $670,000 in total value was secured on-chain at the time of the L2Beat measurement, and no post-deadline recovery mechanism has been publicly disclosed.","timeline":[{"date":"2024-03-15","event":"Zerion publicly announces plans to build a zero-fee Layer 2 network built on ZK Stack technology","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2024/03/15/crypto-wallet-zerion-developing-a-zero-fee-layer-2-network/"},{"date":"2024-07-01","event":"Zerion deploys testnet for the Layer 2 rollup built on ZK Stack, in collaboration with Caldera","source":"The Block","source_url":"https://www.theblock.co/post/302233/zerion-l2-testnet-zk-stack"},{"date":"2024-11-12","event":"Zero Network launches on Ethereum mainnet as the first production-ready ZK Stack rollup on Caldera's platform, offering gas-free transactions through a paymaster model","source":"Caldera blog / The Block","source_url":"https://caldera.xyz/blog/introducing-zero-network"},{"date":"2025-12-19","event":"Zero Network block production halts entirely; a state update gap begins that will last approximately 26 days","source":"KuCoin / L2Beat","source_url":"https://www.kucoin.com/news/flash/zerion-s-l2-network-zero-network-halts-block-production-for-over-3-weeks-aims-to-resume-mid-january"},{"date":"2026-01-08","event":"Zerion publicly acknowledges the block production outage, states it is working with Caldera and ZKsync to resume operations by mid-January 2026","source":"KuCoin","source_url":"https://www.kucoin.com/news/flash/zerion-s-l2-network-zero-network-halts-block-production-for-over-3-weeks-aims-to-resume-mid-january"},{"date":"2026-01-15","event":"Block production on Zero Network resumes after the approximately 26-day outage","source":"L2Beat / KuCoin","source_url":"https://l2beat.com/scaling/projects/zeronetwork"},{"date":"2026-05-21","event":"Zerion announces permanent shutdown of Zero Network via X, citing strategic pivot to wallet and API products; inbound bridging is disabled immediately; users given until July 31, 2026 to withdraw all assets","source":"CryptoTimes / The Block / BanklessTimes","source_url":"https://www.cryptotimes.io/2026/05/22/zero-network-shutting-down-as-zerion-pivots-to-wallet-and-api/"},{"date":"2026-07-31","event":"Zero Network withdrawal deadline: block production ceases entirely; assets not bridged out by this date are at risk of permanent loss","source":"CryptoTimes / Cryptonomist / The Block","source_url":"https://en.cryptonomist.ch/2026/05/22/zero-network-shutdown-july-31-2026/"}]},"v":1}

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