Terminal Finance: The project has been suspended due to the difficulties in the Converge chain, and the subsequent Open Source protocol codebase will be released.

Odaily News Ethena ecological project Terminal Finance officially announced the suspension of the project on platform X. The detailed content is as follows: “It is with a heavy heart that we announce that we will not launch Terminal services. The reason for this decision: Terminal's initial design goal was to become a liquidity center for @convergeonchain. We have completed the development of the entire codebase and were prepared to launch in the first quarter of 2025. However, the Converge chain did not launch as scheduled, and there seems to be no launch plan in the near future. This has left us with deposits and a complete protocol, but lacking the ecosystem on which to provide services. We explored various transformation plans, but none were convincing enough. Each plan had substantial obstacles: limited support, low asset integration potential, unclear long-term prospects, and so on. Ultimately, we are not confident that any of these paths could lead to a successful long-term project. Starting a project just for the sake of starting one goes against our principles. Maintaining integrity is crucial. To Roots holders: Principal is fully preserved, and all user deposits are guaranteed 1:1. Participants can withdraw deposits at a 1:1 ratio. Each current Pendle position is entitled to the earned Ethena Sats, associated sUSDe yields, and etherfi points. To our supporters, LPs, and ambassadors – we are deeply sorry. This is a difficult decision, and we know it is painful for everyone. Today, we have all lost something. But we believe this is the most honest and responsible way forward. We will open-source the fully audited protocol codebase. Terminal was designed as a MetaDEX, incorporating a novel mechanism to address impermanent loss from yield derivatives and reinject profits into the market to 'bribe' the market, fundamentally improving the model's economics. Thank you for your support along the way.”