PANews reported on November 29th that Terminal Finance has terminated the launch of its Terminal project, according to an official announcement. Terminal was initially designed to become a liquidity hub for Converge. Despite completing the entire codebase and preparing for a Q1 2025 launch, the Converge chain did not launch as scheduled, and there appear to be no immediate plans for a launch. Terminal Finance explored various transformation options, but none were sufficiently compelling. Each option faced substantial obstacles: limited support, low potential for asset listing, and a bleak long-term outlook, leading to the decision to discontinue the project.

Terminal Finance states that all users' principal is retained and will remain fully guaranteed at a 1:1 ratio, allowing withdrawals at a 1:1 ratio. Each current Pendle position is entitled to earn Ethena Sats, associated sUSDe earnings, and EtherFi credits.