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Terminal Finance has announced the termination of the project's launch. All users' principal can be withdrawn in full.
BlockBeats News, November 29th, DEX Terminal Finance, incubated by Ethena, posted on social media stating that the Terminal's initial design goal was to become the on-chain liquidity hub for Converge. However, due to the delayed launch of the Converge mainnet and the absence of recent online deployment plans, the project will be terminated. User funds are not affected, and all users' principal can be fully withdrawn. Existing Pendle position holders will continue to receive their due Ethena Sats rewards, associated sUSDe rewards, and etherfi points.
The official statement noted that their team explored various transformation options, but all faced fundamental obstacles, including limited ecosystem support, insufficient asset access potential, and dim long-term development prospects. Ultimately, the team concluded that these paths could not lead to a successful long-term project. Launching for the sake of launching goes against their core principles, and maintaining integrity is the primary guideline.
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