Powerloom users have under 24 hours to bridge assets

Powerloom will stop producing blocks at 6:00 AM UTC on July 21. Holders who still have transferable assets on the Powerloom network have under 24 hours to use the project’s official bridge to move those assets to Ethereum or they will lose access to balances left on Powerloom.

Powerloom’s wind-down page shows the Arbitrum-based bridge remains active, but it only processes balances that are already liquid and available for transfer on Powerloom. Users must initiate a withdrawal on the Powerloom network and then complete the corresponding claim on Ethereum before the cutoff.

Several network functions closed earlier. Reward claims, unstaking and node burns were disabled when mint.powerloom.network went offline at 6:00 AM UTC on July 16. Funds tied to those dashboard workflows cannot be recovered through the site’s interfaces.

Once the chain halts, contracts and on-chain state on Powerloom will become inaccessible. The bridge will stop working because the source chain will no longer produce blocks. Powerloom warns that a bridge only operates while both the origin and destination chains remain operational; when the origin chain is retired, the exit route can disappear and balances may be stranded with the defunct chain’s state.

Assets already held on Ethereum are not affected by the shutdown. Powerloom’s ERC-20 POWER contract deployed on Ethereum at 0x429F0d8233e517f9acf6F0C8293BF35804063a83 is immutable and will remain accessible on-chain. The deadline applies only to assets and application state that remain on the Powerloom network.

In a June 15 wind-down announcement the project’s founders said they concluded the network lacked a sustainable operating model, sufficient long-term demand and resources. The founders wrote, “After a hard review of Powerloom’s path forward, I and Swaroop have decided to wind down Powerloom. This is not the outcome we wanted.”

Powerloom’s final reminder urged users to start withdrawals through the official bridge and finish claims on Ethereum before 6:00 AM UTC on July 21. After that time the chain and its bridge will stop functioning and unbridged balances may become irretrievable.