Mynth will wind down operations and discontinue the hosted infrastructure that keeps Novaswap functional, marking another pressure point for cross-chain interoperability projects trying to survive a weaker DeFi market.
The shutdown is scheduled for June 30 at 11 p.m. UTC. Swaps will continue to be processed until that deadline, while support will remain available through the team’s Discord until the end of July. User funds will remain safe and non-custodial, and no user action is required.
The decision comes after three years of development around Mynth’s cross-chain infrastructure and its spin-off product Novaswap. The product aimed to make cross-chain swaps faster and safer by letting users move between networks without relying on a traditional custodial bridge experience. Novaswap had received positive user feedback, but usage did not reach the level needed to sustain operations, maintain its previous pace of development, and expand to more blockchains.
Cross-Chain Products Still Face A Brutal Market
The wind-down highlights a hard reality for interoperability teams. Cross-chain products solve a real user problem, but the market is crowded, security-sensitive and expensive to operate. Routing, relayers, liquidity, wallet support, monitoring, frontend uptime, chain integrations and user support all add cost before a protocol has enough repeat volume to become durable.
Novaswap sat inside that difficult category. The product was designed to route swaps across chains in a smoother way, while the wider Mynth system focused on interoperability without forcing users into a more complex bridging flow. A NovaSwap Catalyst proposal also positioned the product around Cardano cross-chain access, with a frontend tied to Mynth’s backend and a roadmap toward broader multi-chain support.
That makes the closure more than a small app shutdown. It shows how even technically credible products can struggle if usage, fee capture and expansion funding do not line up quickly enough.
Interoperability Is Splitting Between Winners And Survivors
The broader cross-chain market is not dead. It is becoming more selective. NEAR Intents recently crossed $20 billion in all-time volume, showing that chain abstraction and solver-based routing can gain real traction when volume, user experience and liquidity depth reinforce each other.
Mynth and Novaswap show the other side of that same market. Strong execution and positive community feedback are not always enough if the product cannot reach sustainable scale. Cross-chain systems also carry a higher trust burden because bridges and interoperability rails have historically been among crypto’s most attacked infrastructure layers.
The deadline now gives users a clean transition window. Novaswap swaps remain available until June 30 at 11 p.m. UTC, support stays open through July, and funds remain non-custodial. The larger signal is sharper: cross-chain demand is still real, but the market is forcing smaller infrastructure teams to prove usage, revenue and expansion capacity much faster than before.
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