On-chain identity project Phi will cease operations by the end of the month
Foresight News reports that the on-chain identity project Phi will cease operations on May 25, with phi.box and other services ending, but the PHI token will remain and continue trading on Aerodrome.
According to Phi, the team underwent massive layoffs in January this year to reduce costs in search of a sustainable path forward. In the months that followed, Phi explored various possibilities, including transitioning into the prediction market or artificial intelligence sector, but currently, funding is insufficient to keep the project running.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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