As reported by Bijiie, Terminal Finance, a spot decentralized exchange incubated by Ethena Labs, has canceled its launch plans due to the failure of the Converge blockchain to launch as scheduled. The project confirmed that all $280 million in user deposits, including $225 million in USDe, 10,000 ETH, and 100 BTC, remains fully withdrawable. Terminal stated the decision to shut down was due to 'substantial obstacles' and a lack of viable alternatives, while pledging to retain user rewards and open-source its audited protocol.
Terminal Finance Cancels Launch After Converge Blockchain Fails to Launch
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