Terminal Finance: The project has been suspended due to the failure of the Converge chain, and the protocol codebase will be open-sourced in the future

The DEX Terminal Finance incubated by Ethena announced on social media that the initial design goal of Terminal was to become the liquidity hub on the Converge chain. However, due to the Converge chain mainnet failing to launch as scheduled and no recent plans for a launch, 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 User funds are not affected, and all users' principal can be fully withdrawn.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 entitled Ethena Sats earnings, associated sUSDe earnings, and etherfi points.

The official statement indicated that the team explored various transformation options, but all faced fundamental obstacles, including limited ecological support, insufficient asset access potential, and bleak long-term development prospects. Ultimately, the team concluded that these paths could not lead to a successful long-term project, and launching for the sake of launching contradicts their core principles; maintaining integrity is the primary guideline.