BlockFlow reports that Terminal Finance, a project within the Ethena ecosystem, has announced it will cease operations. The project was originally designed to serve as a liquidity hub for the Ethena ecosystem but has decided to shut down prior to its official release. Originally planned for Q1 2025, the cancellation is attributed to the failure of the underlying Converge chain to launch as scheduled. The team cited indefinite timelines and ecosystem dependency issues as key reasons for the closure. Although they explored various pivot options and transformation strategies, they were unable to overcome the obstacles and decided to close the project to maintain integrity. Most importantly, the team has assured users that all funds are safe. User principal funds remain fully backed 1:1 and are available for full withdrawal despite the project cancellation. [Update 1] The project has explicitly confirmed that pivot options were explored but ultimately deemed unviable, leading to the final decision to shut down. Full withdrawals are now emphasized as the primary resolution for users.