According to HashNews, Pryzm announced that it will shut down its Layer 1 mainnet in early January 2026 due to an unsustainable economic model. Users are required to merge Yield Tokens and Principal Tokens within the next few days and initiate the redemption process for Collateral Tokens. Additionally, Pryzm will offer token burns to PRYZM holders in exchange for allocations in an upcoming Ethereum-based DeFi project. According to Coingecko data, the PRYZM token has dropped approximately 80% in the past 24 hours, with a current market cap of $52,657.57.
Pryzm Announces Mainnet Shutdown in Early 2026, Token Plummets 80%
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Summary
Pryzm announced the shutdown of its mainnet in early 2026, citing an unsustainable economic model. Users must merge Yield and Principal Tokens and begin redeeming Collateral Tokens. The project will also offer token burns to PRYZM holders for access to an Ethereum-based DeFi project. The PRYZM token has fallen nearly 80% in 24 hours, with a current market cap of $52,657.57.
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