Terminal Finance: Project shuts down due to delays in the Converge chain, protocol codebase to be open-sourced later

ChainCatcher news, DEX Terminal Finance, incubated by Ethena, posted on social media that Terminal was originally designed to become the liquidity hub on the Converge chain. However, since the Converge chain mainnet failed to launch as scheduled and there are currently no plans for its launch, the project will be terminated. User funds are not affected in any way, and all user principal can be fully withdrawn. Existing Pendle position holders will continue to receive their entitled Ethena Sats rewards, associated sUSDe earnings, and etherfi points.

The official statement said that the team explored various transformation plans, but all faced fundamental obstacles, including limited ecosystem support, insufficient asset integration potential, and bleak long-term development prospects. Ultimately, the team determined that none of these paths could lead to a successful long-term project, and launching for the sake of launching would go against their core principles. Maintaining integrity is the top priority.