Syndicate Labs, a blockchain development startup backed by a16z, has announced its closure after five years of operation. The decision comes as the Rollup market undergoes a fundamental shift, with EVM Rollups no longer being the mainstream standard, leading to a significant contraction in market size. Syndicate clarified that the closure is unrelated to recent cross-chain bridge attacks. Affected customers and all SYND token holders on the Commons Chain have been fully compensated from treasury reserves. Syndicate had previously secured over $27 million in funding.