According to Foresight News, Milkomeda, an L2 network protocol providing EVM functionality for non-EVM compatible chains, has announced that its Milkomeda A1 (Algorand) cannot generate sufficient fees to cover the operational costs of its validators. As a result, Milkomeda A1's validators will shut down in late May 2024, urging anyone with funds on A1 to transfer them within the next six months.
However, Milkomeda believes that Milkomeda C1 (Cardano) has the potential to be fully independent and sustainably developed, capable of generating enough fees through transactions and delegations to maintain network operations.